developers bonanza, page-23

''Despite the state government's efforts, first home buyers are unwilling to buy new houses on Sydney's fringe, analysts say.''

"The issues are not so much demand but the geographical nature of new housing in Sydney," Dr Wilson said.

"Broad-acre developments of detached housing are now in isolated areas . . . people in Sydney are fed up living 30km from the CBD, let alone 50km or 60km out."


Dr Wilson said that more than any other group, it is young first home buyers who value the lifestyle amenities associated with living close to the CBD.

So, to bring first home buyers back into the market, "Sydney's got to go up, it can't go out any more", he said.


http://smh.domain.com.au/real-estate-news/first-home-buyers-shun-sydneys-fringes-20130205-2dvqw.html