29 Sep '14, 9am

"The property market of New South Wales, particularly Sydney, could emerge as Australia's most promising in...

"The property market of New South Wales, particularly Sydney, could emerge as Australia's most promising in...

“The government has committed to spend AU$60 billion to make NSW number one again, and what’ll make the region top in terms of infrastructure, health and transport will be the building of new railway connections and towns. That’s exciting!” said Sunito. Another major plan is the building of one of the biggest exhibition centres in the country within Darling Harbour, a 20ha site just off the city centre. “There is also a rising trend, maybe you can call it a tipping point, of how people live,” Sunito said. “The elderly are downsizing now and their kids don’t want to live with them. The younger generation want to live closer to the workplace and entertainment options.” The change has contributed in part to Sydney’s shortage of 50,000 houses, of which only about 20,000 – out of an annual target of 31,000 – are being built. So it’s no surprise that prices are spiralling and th...

Full article: http://www.propertyguru.com.sg/market-news/interview/sydn...

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