NSW’s population growth from immigration has caused a housing supply-demand disconnect in Sydney, with limited new stock and slow future pipeline. Median rents have increased, causing affordability issues, and low vacancy rates are expected to remain. The block of unit market signals strength for income return, with developers refurbishing existing assets due to escalating construction costs. Limited stock is available as vendors prefer to keep the secure income stream, resulting in decreased volumes and stagnant yields despite increased financing costs.
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