Increased regional building opportunities in Sydney's future
New house and land markets in and around Sydney could be set to experience an increase in demand ...
New house and land markets in and around Sydney could be set to experience an increase in demand over the next year, according to new research.
BIS Shrapnel released a report titled Residential Land Market - Outlook for Demand and Supply, 2011 to 2016 that looks closely at the future of some of the more regional markets near the capital city.
The dwelling construction and rural property industry in and around Sydney has been slow over the last couple of years due to a number of factors - such as the interest rate increases in 2009 and 2010 as well as the end of the first home buyers grant - but are beginning to look like they will soon recover.
Researchers have cited solid population growth in NSW, decreased interest rates and improved infrastructure developments as potential motivators that could help drive up market interest.
This could be news for a number of industry players looking to benefit from early action - such as property investors, developers and current land-holders.
While the prospects are starting to look up for the regional areas surrounding Sydney, there is still some uncertainty surrounding the long-term direction of development in the region - with the report's authors noting that a portion of the demand spike could be from the under-supply of new land development experienced during the global financial crisis.