Real Estate
Soaring Sydney Housing May Lead to City ‘With No Grandchildren’
- Sydney is seeing an exodus of people aged 30 to 40 years old
- City has low density inner suburbs compared with London, Paris
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Sydney’s eye-watering house prices are driving an exodus of young families and a failure to reverse the trend could see Australia’s harbor city become known as the place “with no grandchildren,” the New South Wales state productivity commissioner warned.
Between 2016 and 2021, Sydney lost twice as many people in the 30- to 40-year age group as it gained, highlighting the need for increased housing density, Peter Achterstraat said in a video on Tuesday accompanying a new Productivity Commission report.