How ‘burbs have all grown up P- plater had man stuck un­der car

The Sunday Telegraph (Sydney) - - NEWS - AI­DAN DEVINE

MORE town­houses and ter­races will need to be built in Syd­ney’s mid­dle ring sub­urbs to rein in es­ca­lat­ing home prices and quell an ex­o­dus of home­buy­ers out of the city, prop­erty ex­perts claim.

The warn­ings come as aerial images pro­vided ex­clu­sively to The Sun­day Tele­graph by Nearmap showed hous­ing es­tates sprang up at an as­tound­ing rate over the past eight years, es­pe­cially in outer and in­ner ar­eas.

The build­ing was heav­ily con­cen­trated in the city’s in­ner south and fur­ther flung re­gions in­clud­ing Pen- rith, the south­west and the north­west, but thinly spread within a 1530km ra­dius of the CBD.

Real es­tate an­a­lysts said the “lumpy” spread of res­i­den­tial de­vel­op­ments re­sulted in hous­ing short­ages in re­gions such as the north shore, Sutherland Shire and the north­ern beaches, which helped push typ­i­cal house prices well past $1.2 mil­lion.

Prop­erty Coun­cil of Aus­tralia di­rec­tor Ch­eryl Thomas said medium den­sity hous­ing has been the “miss­ing piece” of Syd­ney’s hous­ing mix for years.

“There’s been a pick-up in home build­ing but Syd­ney is still play­ing catch up with de­mand,” Ms Thomas said. “More units are get­ting built within in­ner ar­eas and more de­tached houses in outer ar­eas but Syd­ney’s mid­dle is be­ing over­looked and there is an op­por­tu­nity for more ter­races in ar­eas with pub­lic trans­port.”

A greater se­lec­tion of ter­races and town­houses would mean fam­i­lies on mid­dle or low in­comes would not have to choose only be­tween de­tached houses on the city fringe or units in sub­urbs closer to the CBD, Ms Thomas said.

Re­cent prop­erty price move­ments sug­gested home­buy­ers could al­ready be grow­ing frus­trated with the choice of prop­er­ties on of­fer within their bud­gets and were in­creas­ingly opt­ing out of buy­ing in Syd­ney al­to­gether.

CoreLogic data in­di­cated the me­dian price of a house in Wol­lon­gong in­creased by nearly $100,000 over the past year to hit $680,000, with lo­cal agents point­ing out the growth was driven almost en­tirely by Syd­ney buy­ers.

A sim­i­lar trend helped push up the av­er­age price of a home in the Blue Moun­tains by 16 per cent.

Home val­ues in Winge­car­ribee coun­cil, which in­cor­po­rates the South­ern High­lands and north­ern Illawarra re­gion, in­creased by a mam­moth $135,000, or 21 per cent.

Uno Home Loans CEO Vin­cent Turner said it was easy to see the ap­peal of buy­ing out­side Syd­ney.

“The think­ing among buy­ers is that if you’re go­ing to be buy­ing a house that’s an hour from (the CBD), you may as well go a lit­tle fur­ther and buy in a life­style lo­ca­tion,” he said.

En­trepreneur Will Davies, said he moved his fam­ily from Rand­wick to Berry, 50km south of Wol­lon­gong, for a bet­ter life­style and felt part of a “move­ment”.

“It feels like a real ex­o­dus,” he said. “A lot of Syd­ney fam­i­lies down here have done the same as us and I know other peo­ple who want to make the move … Syd­ney prices and rents are so ex­pen­sive so it made a lot sense for us.” A P-plate driver has been charged af­ter a man ended up trapped un­der­neath his car in Syd­ney’s north­west.

Emer­gency ser­vices were called to Ar­ca­dia Rd in Gal­ston just be­fore 1am yes­ter­day fol­low­ing re­ports a 26-year-old man had jumped onto the bon­net of a car, be­fore slid­ing off and get­ting stuck un­der the ve­hi­cle. He was treated for a bro­ken leg.

The 23-year-old driver re­turned a pos­i­tive breath test and was charged. He will ap­pear at Hornsby Lo­cal Court on June 8.

Will Davies and wife Suzie, seven-month-old Tommy, and five-year-old twins Hugh and Jack have made the sea change to Berry on the south coast.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.