Sydney built more than 30,000 multi-unit homes last year. That new supply has meant falling rents in most of the city.
Sydney is quickly building apartments to rent. "The number of flats listed on real estate websites to rent has more than tripled in 15 postcodes, including around Gordon, Miranda, Botany, Sutherland and Homebush," Nigel Gladstone reports for the Sydney Morning Herald. That new supply has led to falling rents in many parts of the city, some areas have seen rent fall 100 dollars (Australian) every month.
After more than a decade of a rental market defined by tight supply, things are changing in the city. "Sydney is in the grip of an apartment building boom, with 30,880 multi-unit dwellings built last year, a record for any Australian city," Nigel reports. This unprecedented shift has given many renters power they didn’t previously enjoy. While some neighborhoods in the city have seen rents continue to rise, even in this climate, most neighborhoods saw at least modest decreases in rent. Vacancies and ads sales for apartment listings are up.
FULL STORY: Apartment oversupply puts squeeze on rents
Oklahoma has Over 200,000 Vacant Homes. None are Affordable to Low-income Families.
The state faces a shortage of over 80,000 rental units for extremely low-income households while hundreds of thousands of vacant units face financial or legal barriers to restoration.
Nevada is no Longer a Haven of Housing Affordability
Large investors own 11 percent of single-family rentals in Las Vegas — far above the national average of 3 percent.
Seattle has Built Over 14,000 Affordable Units Since 2020 — More Than Any Other US Metro
Despite being ahead of other cities, Seattle is still short more than 150,000 affordable units.
The state-sanctioned urbicide of Austin
People don’t kill cities. Freeways do.
US to reduce Colorado River water deliveries to Mexico
A new Colorado Treaty amendment reduces Mexico’s Colorado River water allocation by 250,000 acre feet.
New Jersey’s second-largest city bans standalone data centers
Jersey City will continue to allow co-location facilities, such as those meant for research institutions that store their own data.
Amtrak not solely to blame for New Jersey commuter rail's unreliability, report finds
A new study from the Garden State Initiative found that NJ Transit’s budget grew 20% across a 4 year period, but reliability declined significantly over the same period.
EPA erases limits on planet-warming pollution from power plants
Under Monday’s plan, power plants would still have some limits on how much mercury, arsenic and other contaminants they can emit.
Phoenix announces new on-demand transit service, more frequent RAPID buses
Both new services will launch in October, and are part of Phoenix's Project Effective Access Solutions for Easing Congestion.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
Eagle County Government
Harvard University Graduate School of Design
Nashville Planning Department
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello
Journal of the American Planning Association