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4SydneyisreachingaliveabilitycrisisButSydneyhasnotbuiltsux18cienthomesoverrecentyearswithitscurrentproducononlyhalfthatofVictoriaonapercapitabasis.AlreadytheaveragehousecostinSydneyisoneofthehighestintheworldandthisisimpacngonax16ordabilityformanyfamilies.TheSydneymedianhouseis100000moreexpensivethantheequivalentinMelbourne.Theaverageweeklyearningsofax17rsthomebuyercanax16ordamortgageof331000whiletheaveragehousepriceinSydneyis563300.Thelackofhousingsupplyhasledtoanincreaseinrentsby40overthelast5years.Manydevelopersindicatethattheyx17ndplanningapprovalprocessesinSydneyaddenormousrisktoprojects.Theslowandcomplexplanningregimeismainlyrunbylocalgovernmentwherecouncilorsrepresentandevelopmentcommunies.AfurtherreasonforSydneyx19slackofhousingsupplyhasbeentheimpactofinfrastructureleviesrequiredbystateandlocalgovernment.ThecombinaonofhighinfrastructurecostsandacomplexplanningsystemisdrivingthedevelopmentindustryoutofSydneyandoutofNSW.ThecollapseofresidenalbuildinghasreducedNSWx19sshareofAustralianGDPoverrecentyears.TheProducvityCommissioninanaonalresearchprojectonplanninginAustraliafoundthat64ofSydneyresidentswereagainstgrowthandchangeparcularlyifthisledtomoredensedevelopment.Thisatudeispartlyinx19uencedbythefactthatSydneynowhas27.6ofalldwellingsasapartmentsandthetradionaldetachedhouseisthreatenedbythischange.Manyyoungerpeoplehoweverpreferapartmentsclosertoworkandameniesandrereeswanttodownsizebymovingtoapartmentstoo.Yetlocalgovernmentisreluctanttorezonelandforthispurpose.Sydneyneedstobuildmorehomestoaccommodateitspopulaonwhichisgrowingby1.3ayearorabout60000peoplemorethanthetotalsizeofanyNSWregionalcityoutsidethemetropolitanaxisofNewcastle-Sydney-Wollongong.ThewayplanningandtheprovisionofinfrastructureismanagedwillbethekeytoSydneyx19sfuture.Itistheoverlappingrolesofstateandlocalgovernmentthatneedsclarix17caonifNSWistobecomenumberone.Sydneyx19spopulaongrowthcanx19tbestoppedbutatthesamemetheselementofNSWcouldbemoreevenlydistributedbypromongmajorregionalciesasexistineveryotherdevelopedcountry.ResisnggrowthwillnotpreserveSydneybutrisksturningitintoovercrowdedhousessharedbyagrowingnumberofyoungpeoplewhocanx19tax16ordtheirownhomes.Sydneyalreadyhasaseverehousingshortagebecausedevelopersx17ndstateandcouncilplanninganddevelopmentrestriconsandinfrastructuretaxestooonerousfordoingbusiness.HowmuchdoestheaverageSydneyhousecosttobuyHowmuchcantheaveragefirsthomebuyeraffordtopaySydneyhasthehighestaveragehousepriceofanycityinAustraliaQuarterlybuildingapprovals-SydneywellbelowMelbourneDwellingStockDefciencyTrends-NSWversusRestofAustraliaOverthenext20yearsSydneywillneedatleast600000newhomeslocatedininx8llsitesandingreenx8eldsitesonthefringesofthemetropolitanarea.Sydneyx19spopulax10onisgrowingby1.3peryear60000people.Sydneyalreadyhasaseverehousingshortage.