CoreLogic’s latest Quarterly Mapping the Market Report includes the below stunning graphic showing the absence of affordable housing across Sydney:
For a family seeking a house to live in, they would need to stump up nearly $1 million (plus stamp duty) to purchase anything within 20 kilometres of the CBD. Even if they spread-out to within 50 kilometres or more of the CBD, they would be hard pressed to find anything that one could reasonably classify “affordable” to those on median incomes.
The unit market is a bit better if you don’t mind shoebox living. But even then there is very little priced lower than $400,000 within 50 kilometres of the CBD.
The rental market also sucks in Sydney, with very little “affordable” accommodation – i.e. priced below $400 per week – available anywhere, even beyond 50 kilometres of the CBD:
What a disgrace.
