by Marshall Cobb - Principal
Well, Carl finally jumped on the plane to Vietnam, and from time to time I will provide you with some highlights of his charity work. You can read more about his charity here - Destiny Rescue.
Back to real estate - if you are thinking that the amount of construction in Sydney (and other capital cities) has gone mad, then you need to have a close look at the Housing Industry Association (HIA) latest report. They suggest that if the nation’s population continues to increase at the current rate of 1.6% p.a., and household income remains relatively stagnant, an average of 215,123 homes would need to be built every year until 2050 to reach a balance between supply and demand. This is compared to the “record” 233,544 dwellings built in 2016. Read more.
It is no surprise that as land and construction costs continue to rise, apartments are quickly becoming the only viable and affordable option for many homeowners - especially in Sydney.
In fact CoreLogic’s Cordell Construction Monthly report for April 2018 found that apartments represented 28%, or $3.6 billion, of the total value of new construction projects in March. Read more.
And it just so happens that beautiful, boutique, brand new apartments in Sydney are our specialty!