I read the article on SMH today re "Empty nests too high for the empty nesters".
http://www.smh.com.au/national/empty-nests-too-high-for-the-empty-nesters-20091101-hrld.html
Assuming the article represents some truth, what I see is that on one hand the supply of housing is low, on the other we have excess that nobody wants. The other day I came across some blurbs re free BBQ and information session on some Rhodes apartments.
On Google Maps Roseville seems like a good suburb location (next to Chatswood) and for all it's worth I'd love to live around that area (close to both Kuring-gai Chase National Park and the Entrance). But yes, I want a house too (to park my toys that are essential to bring to these places), not an apartment.
I ask the experts out there on this forum, why do you think nobody want these apartments? Is it the location, or the developer's premium generally attracted in a brand new release? Or low yields? Or something else we can't generalise?
Sorry subject should say "Excess Supply". Is there a way to edit?
That brings me to a perpetual question I've got for this forum: Do you find this forum difficult to use? I certainly think so as I often can't find my posts/reply if I don't eyeball thru a long list of entries… but this is a discussion for another forum I guess. Do point me to some posts regarding this if any. Thanks.
Of course there is an over supply in this part of the north shore. The boffins in the Dept of Planning took the planning powers away from Kuringgai council, foisted its own plan for 20000 additional residents (about a 30% increase) and released all of the land at the same time. This area is traditionally low density and should have been kept that way – high density highrise is not the way to go in an environmentally sensitive & heritage area. The area does have good rail (although no stations have a lift), pacific highway is a bottleneck, no planning for transport interchanges or upgrade of the rail system (in fact they have reduced the number of trains by diverting them through the Epping/Chatswood line).
This developer's dream of being able to put up virtually unlimited high density dwellings on totally inappropriate sites will cause a slump in unit prices for a long time. There is little demand for this type of housing as the locals are used to living in low density on larger blocks – logic would have dictated a medium density solution with a mix of townhouse/villas not multi-storey.
(Back in your cage Scott)
(PS if you need to edit you can only do so if yours is the last post, just use the pencil at the top of your post. If you want to find your post either search your posts or click on active topics).
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