Sydney built more than 30,000 multi-unit homes last year. That new supply has meant falling rents in most of the city.
Sydney is quickly building apartments to rent. "The number of flats listed on real estate websites to rent has more than tripled in 15 postcodes, including around Gordon, Miranda, Botany, Sutherland and Homebush," Nigel Gladstone reports for the Sydney Morning Herald. That new supply has led to falling rents in many parts of the city, some areas have seen rent fall 100 dollars (Australian) every month.
After more than a decade of a rental market defined by tight supply, things are changing in the city. "Sydney is in the grip of an apartment building boom, with 30,880 multi-unit dwellings built last year, a record for any Australian city," Nigel reports. This unprecedented shift has given many renters power they didn’t previously enjoy. While some neighborhoods in the city have seen rents continue to rise, even in this climate, most neighborhoods saw at least modest decreases in rent. Vacancies and ads sales for apartment listings are up.
FULL STORY: Apartment oversupply puts squeeze on rents
Rents Rose Between December and January
After dropping to a three-year low, U.S. rent costs grew in many major cities.
Commentary: Residential Vacancies Don’t Outweigh Need for New Housing
The myth that there are plenty of vacant housing units in U.S. cities comes from misconceptions about leasing timelines and developer incentives.
Housing Top of Mind for Nevada Voters
The Silver State is the nation’s most unaffordable housing market for extremely low-income households.
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25% resulting in 1,900 jobs lost.
Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”
Why Should We Subsidize Public Transportation?
Many public transit agencies face financial stress due to rising costs, declining fare revenue, and declining subsidies. Transit advocates must provide a strong business case for increasing public transit funding.
Paris Bike Boom Leads to Steep Drop in Air Pollution
The French city’s air quality has improved dramatically in the past 20 years, coinciding with a growth in cycling.
Why Housing Costs More to Build in California Than in Texas
Hard costs like labor and materials combined with ‘soft’ costs such as permitting make building in the San Francisco Bay Area almost three times as costly as in Texas cities.
San Diego County Sees a Rise in Urban Coyotes
San Diego County experiences a rise in urban coyotes, as sightings become prevalent throughout its urban neighbourhoods and surrounding areas.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
Alamo Area Metropolitan Planning Organization
City of Santa Clarita
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service