Debate continues on Sydney housing shortage

The Sydney real estate market is facing a chronic shortage after many years of sporadic house building projects but new research has produced a plan for thousands of new homes.

Planning Minister Brad Hazzard has welcomed a new report from the Urban Development Institute of Australia that pinpoints several areas of land around the city where up to 90,000 homes could be constructed.

Many areas identified by the report are not currently designated for house building projects and while some sites are already earmarked they are not due for development for some years hence.

Several leading experts complain that the lack of development has failed to consider the housing needs of future generations of Sydney residents and has led to property in Sydney being amongst the most costly across the globe.

The debate for providing homes for future generations is set to continue for some time yet and in the meantime rental costs and house prices are likely to build ever higher.