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Upwards Not Outwards For Sydney

Discussion in 'General Property Chat' started by C-mac, 28th Jul, 2016.

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  1. C-mac

    C-mac Well-Known Member

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    @Jennifer Duke thanks for the great article on this that went up on Domain today. PChat folks can find it here.

    Two things that caught my interest about it:

    1) No mention of Sydney's height limit due to our airport being 7km from the CBD (meaning towers can't physically be taller even if they tried, due to planes likely clipping them as they take off!)? This is probably a major contributor to why Sydnet isn't building so high and why Melbourne, GC, and Brisbane cities are building tall so much; due to their airports either being far away enough to allow no risk of planes crashing into them, or the airports' runway flight paths being positioned away from the CBDs entirely. I imagine this factor will inhibit vertical expansion particulalry in Adelaide as its airport is so close to the CBD with runways' directions positioning plane take-offs almost directly over the CBD at low altitudes. This is valuable info for investors. If cities are geographically constrained to expand 'outwards' due to sea/river and park boundaries, and an airport restrains vertical growth, it could present opportunity in some cities for investors. I wrote a bit about that here.

    2) Most interesting to me is the table/chart you kindly put together that shows the stark comparison of detached house construction volume compared to multiunit apartment construction volumes, by area within Sydney. Just... wow. Houses really are becoming as rare as hen's teeth in some high-demand parts of Sydney. Anything with a skerrick of actual land under it, owned on one title (i.e. a single house), is clearly becoming the prize darling of Sydney. Even Parramatta which 'should' have more room to have more houses going in, is simply just building apartments, apartments, apartments...
     
  2. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Cam... omg... I just opened your link... I honestly previously had no idea you were such a high quality, deep thinking property writer prior to what you wrote about Hobart...
     
  3. bumskins

    bumskins Well-Known Member

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    The few Supertall buildings dont mean much at the end of the day. Sydney's height limits are still very high.
     
  4. Jennifer Duke

    Jennifer Duke Well-Known Member

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    Just saw this! Thank you for reading :)

    Completely agree to point 2... we'll soon see living in a house anywhere in Sydney as a complete luxury. Even as building slows, I'd imagine this same trend towards apartments/rejuvenating sites to become higher density will continue.

    In terms of the planes - this will be an interesting point. We're working on a piece about this at the moment... especially given 2nd airport. Implications will be interesting.
     
  5. Ed Barton

    Ed Barton Well-Known Member

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  6. Ted Varrick

    Ted Varrick Well-Known Member

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    Hi Jennifer,

    Trying to buy a house in Sydney is a woeful experience. Agents underquoting (OR mathematically coincidental sale prices at 10-15% above the highest level of the"price guide", and I use the term loosely), and crazy auctions with prices going berserk (seriously? Case in point Sold 26 Raven Street, Gladesville NSW 2111 on 29 May 2016 for $3,470,000 )

    Why dont you have a little look at the mad towers that have been tried on for the Balmain Leagues Club (in the flight path) and the Gladesville Shopping Centre that has been knocked back by Hunters Hill Council (arguably about to get the boot, depending on which week it is, and the current wind direction...)? There's probably a few good stories there.

    Note: I have no affiliation with any of the aforementioned entities...
     
    Jennifer Duke likes this.