TY - JOUR
T1 - 'The great Australian dream' busted on a brick wall
T2 - Housing issues in Sydney
AU - YU, Xiaojiang
N1 - Funding Information:
Beed, T, Stimson, R, Paris, C and Hugo, G (1987) Stability and change in Australian Housing , Final Report, Australian Housing Research Council, Project No. 161.
PY - 2005/12
Y1 - 2005/12
N2 - Since the mid 1990s, while Sydney has enjoyed economic prosperity, its housing crisis has had a severe impact on low-income families and single person households. This paper examines some of the main issues and causes surrounding housing stress in Sydney, from a socioeconomic, governmental, and property investment perspective. A combination of the housing price bubble, reduced affordability leading to a decline in home ownership, and a shortage of low-cost housing stock underpins the major housing problems in the city. In order to improve the housing market and meet people's needs for accommodation, there is urgent need for government policy change, public education regarding property investment, and prevention of speculative behaviours in the property market. Dealing with socioeconomic polarisation and the increasing population will prove a great challenge for federal, state and local governments.
AB - Since the mid 1990s, while Sydney has enjoyed economic prosperity, its housing crisis has had a severe impact on low-income families and single person households. This paper examines some of the main issues and causes surrounding housing stress in Sydney, from a socioeconomic, governmental, and property investment perspective. A combination of the housing price bubble, reduced affordability leading to a decline in home ownership, and a shortage of low-cost housing stock underpins the major housing problems in the city. In order to improve the housing market and meet people's needs for accommodation, there is urgent need for government policy change, public education regarding property investment, and prevention of speculative behaviours in the property market. Dealing with socioeconomic polarisation and the increasing population will prove a great challenge for federal, state and local governments.
KW - Affordability
KW - Housing bubble
KW - Housing policy
KW - Property investment
KW - Sydney
UR - http://www.scopus.com/inward/record.url?scp=28044435407&partnerID=8YFLogxK
U2 - 10.1016/j.cities.2005.08.001
DO - 10.1016/j.cities.2005.08.001
M3 - Journal article
AN - SCOPUS:28044435407
SN - 0264-2751
VL - 22
SP - 436
EP - 445
JO - Cities
JF - Cities
IS - 6
ER -