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