Urbanised

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Market Share Going West 

The Department of Planning may have released its new forecasts, but we have conducted a desktop audit of development application pipelines in Cordells. The results are similar to the Department’s. We reviewed apartment developments of more than 50 units and the estimated completion dates on the development applications, it would appear that the West will continue to grow market share and as a matter of fact the bulk of activity will shift West. The Eastern City, including the CBD shows very low completions to 2022. According to the analysis Western Sydney doesn’t lose the lion's share of the market in the foreseeable future. A real problem is that there has been a cliff fall in completions and the rebound won’t occur until later in 2022. What we expect is the Western City won't suffer as much as the rest of the City in the immediate future.