Consumer News

By Tim McKibbin – REINSW CEO

Sydney’s population now exceeds five million according to figures released by the Australian Bureau of Statistics last month and is only going to get bigger.

Add this to house prices rising rapidly and the need for additional housing is more important than ever. In many respects, it is the major culprit of housing affordability.

This is why one of the best developments available to boost supply is termed a vertical village, which is made up of three tiers.

On the ground floor, it contains retail outlets such as a supermarket, newsagent and restaurants.

On the first floor, it would include professional services like a doctor’s, dentist’s, gymnasium and childcare.

The floors above it are residential. This way everything the residents require can be obtained from within their vertical village. If these are close to public transport, all the better.