Ben Fordham on 2GB discussed the Sydney Housing crisis earlier this morning
“Twenty Six Sydney Councils are not meeting their benchmark when it comes to providing new homes. Seven are … twenty-six are not so overwhelmingly we are failing in that area almost 30% of migrants want to settle in NSW and the vast majority want to live in Sydney and areas like Parramatta, Canterbury Bankstown and Blacktown are expected to carry most of the load but people in those areas say “we don’t have enough room” and that’s not being unkind or cruel it’s just the fact of the matter. Sydney is falling short of its housing targets by 11,000 units every year.”
“Tom Forrest who is the CEO of Urban Taskforce says we’re caught in a wicked conundrum. Migration numbers are increasing but rental vacancies are lower than 1%. Normally, this would be a signal to the market to invest in additional supply, but the current system has seen a massive drop off in affordable housing approvals and new builds since 2019″
Click the link below to listen to the full Ben Fordham Segment on the 2GB website. Time Stamps for this segment are from 1:24:36 to 1:28:48
https://www.2gb.com/podcast/ben-fordham-live-monday-7th-november/
