Read the latest Apartments-in-Sydney-Suburbs-Market-Brief-February-2016 (PDF) by BIS Shrapnel. Key points are that:
- Dwelling completions collapsed between 2006/07 and 2011/12, which created a sizeable dwelling deficiency.
- This deficiency has been sustained by strong population growth, with New South Wales benefiting from strong, albeit easing, net overseas migration, and a record low net interstate migration outflow.
- This deficiency, and improved affordability via low interest rates, have been the key drivers of the upturn in prices and demand for new dwellings. Completions rose from 8,400 dwellings in 2011/12 to 33,400 dwellings in 2014/15.
- Dwelling completions exceeded the increase in underlying demand for the first time in 2014/15, allowing the deficiency to fall slightly. However, given the estimated deficiency of 42,300 dwellings at June 2015, and continuing population growth, it will take some time for the market to return to balance. This should still support an elevated level of new dwelling activity.
- Apartment development has increasingly moved from inner Sydney suburbs to the city’s middle ring.
Here is information on NSW economic performance provided by CommSec (PDF)
Here is information on Sydney dwelling prices (link)
National & International economic indicators related to property
Review national and international economic indicators related to property,