Sydney’s robust economy reflects and leads the rest of the country. An unprecedented record of continued financial growth has avoided a recession since 1991. With this backdrop of financial resilience, Sydney’s productivity and export performance have burgeoned and are anticipated to lead to an increase in economic activity of $655 billion by 2036. Planning for 800,000 new jobs and the construction of 36,000 new homes per year is required to accommodate this predicted economic and population spike.
Demographic and affordability changes will demand more diverse housing types, tenures and price points as well as more rental accommodation for middle- and lower-income households. There will also be an increasing need for social housing for the more vulnerable.