NSW Government warns of rental market Armageddon

The NSW Government has released its Greater Sydney housing report, which projects that the number of new homes that will be built across Greater Sydney in the five years to 2026-27 will fall to only 128,450, down 25% from the previous five year period:

Compare this supply forecast to the federal budget’s population projections for NSW, the overwhelming majority of which will land in Greater Sydney.

The federal budget forecasts that NSW will add an enormous 578,000 people over the same five year period to 2026-27:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.