The impact of rapid growth has not been lost on Sydney, which is expecting to experience a massive population increase of two million people by 2013, and many initiatives are already underway to help house all the new additions to the city's eclectic mix of people.
The latest report from consultancy group Deep End Services has highlighted a projected increase of 25,000 apartments over the next five years New South Wales' capital city.
Spread across 36 suburbs and 11 local government areas, the 130 construction projects are expected to lessen the blow of rapid growth and help the city cope with the expansion.
These housing projects could be a fantastic opportunity, especially for anyone interested in taking out property investment loans.
Geographically, the majority of the apartments are being planned for construction in the city's central business district and southern suburbs, with the projects cumulatively estimated to house 44,000 people.
The timeline for the projects indicates that the majority of them will be completed by the end of 2014, with present forecasts estimating an average completion rate of 4,000 dwellings per year.
Not only will these apartments help to house the upcoming influx of residents into the city, but these projects will also help to stimulate the local economy.
During construction, for example, local builders will be in high demand, while local small businesses will begin to benefit from the growth of people in their areas.
If you're interested in property investment loans and purchasing your own slice of Sydney real estate, now could be the perfect time to get in contact with a financial home loan expert and begin climbing the property ladder.
You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we’ll call you!
DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.