200,000 more homes needed in Sydney, but is building more the answer?
We all know Sydney is feeling the pressure of overcrowding but is building more houses really the answer?
A new report from the Australian Population Research Institute says 200,000 more homes are needed within the next five years in Sydney just to keep up with immigration growth.
They say housing supply in the city is so poor, young people simply can’t afford to buy in established suburbs.
President of the Sustainable Australia Party Will Bourke tells Chris Kenny it’s time to shift our focus to demand, rather than supply.
“In 1975, it used to take four years of average income to afford an average home. It’s now 13 years.
“The supply side is not working and we need to do something about the demand side.”
Will says that means re-evaluating our immigration intake.
“We’ve got an immigration program of around 200,000 per year… it used to be 70,000 per year.
“We’re saying, let’s just go back to that normal level and take the pressure off housing affordability.”
Click PLAY below for the full interview