Urban Taskforce CEO, Tom Forrest, today said that the directive from the Chinese Government for all students to return to face-to-face university teaching will have an immediate positive impact on the tertiary education sector. These benefits will flow onto to the broader economy.
But today’s decision is very bad news for those struggling with rental stress and housing affordability.
With many tens of thousands of students expected to return to NSW universities, and rental vacancies at less than 1%, this decision will drive a sharp increase in demand for housing.
The decision by the Chinese Government exposes the core problem with the planning system, particularly here in NSW. Urban Taskforce has been calling on the system to be more flexible in the face of the crisis, but our calls have been met with bureaucratic obfuscation and silence.
We face two simultaneous crises in CBD locations across Greater Sydney and all of NSW.
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