Property consultant says Sydney’s rising house prices could put hundreds of thousands out of work
Property consultant Simon Savoy says the Sydney property market is going through a “recovery” and that the housing market in Sydney’s CBD is “not sustainable”.
“People are coming to the market looking for stability and that’s what’s going on in Sydney,” Mr Savoy said.
“There’s lots of people in this market who are going to want to stay in Sydney for a while.”
The question for the developers is, ‘what is the best way to build a property in Sydney?’
They can’t do all the things that they do now.
“So you’ve got to have a balance.
You can build houses but you have to be able to provide stability for people in the community.”
It’s going to take a while for people to adjust.
“Mr Savoy’s comments come after the State Government said it would take steps to “address the situation” of people facing homelessness in Sydney, including allowing them to claim the city’s Housing Assistance Payment and the Homelessness Compensation Levy.”
We are working with housing providers to provide additional support for people experiencing homelessness in the CBD,” a spokeswoman for Minister for Housing, Simon Birmingham, said in a statement.”
Our focus is on addressing the situation and supporting people through the process of transitioning into housing, and ensuring that housing is available to those who need it most.
“Mr Birmingham said the Housing Assistance Payments and Homelessness Payment would be increased to $500 a fortnight, and the state Government would also be extending an existing $2,000 grant to those with severe financial hardship.”
To be fair, I’m not aware of any changes in the funding of the Homeless Payment, but we’re making sure that we’re getting that money to people who need that money,” he said.”
Those with severe hardship need the support and we’ll be working with those with serious financial hardship to ensure that they’re able to access that support.
“Mr Smith says the Housing Action Plan, which has been in place since 2012, was not a ‘fix’ to the problem of homelessness.
He said: “This is not a fix.
This is a very big undertaking.
“They are not a new policy.
They have been there for a long time.”
This is an attempt to do something about the issue of homelessness, which we’re not going to solve overnight.