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Sydney’s growth means need for housing

By Louise Morrin

It's hard to deny Australia's population is growing. But this has been felt even more so in Sydney – and there's good reason for it!

With a significant mix of cultures, fantastic events and a great lifestyle to match, it's no wonder why Sydney is a hotspot for population growth. 

However, with this growth comes the need for more houses to give homebuyers finding properties in Carlton more choice and better affordability.

Urban Taskforce chief executive Chris Johnson noted that Sydney will need a total of 664,300 new homes to support a rising population. These figures were based on population data outlined in the 2013 Draft Metropolitan Strategy for Sydney, which predicts a large increase in the number of Sydneysiders over the next 20 years. 

"If the robust population growth continues over the next 50 years we will need to double the number of houses or apartments in Sydney from the current 1,673,800," Mr Johnson said in a statement. 

Already, RP Data has noted Sydney's median dwelling value rose 16.7 per cent over the 12 months to April 2014. 

Building more houses across the Sydney region can not only help first home buyers into the market, but potentially keep a lid on house prices, too. 

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