Property development key to economy - report
More residential properties need to be built in order to boost national economic growth and productivity, according to the Grattan Institute.
A report released by the institute titled 'Productive cities: opportunity in a changing economy', addresses the need to reduce the difficulties of buying a house in areas where employees can easily get to their place of work in different areas of our four biggest cities.
The report shows that while those who live close to city centres are well qualified and highly paid, those on lower incomes are living further away from city centres.
Grattan Institute cities program director Jane-Frances Kelly said that "if the trend continues unchecked, then many people risk being locked out of the parts of the city that offer the richest access to jobs".
The McKell Institute showed thoughts on the solution to housing shortages around the centre of Sydney in their statement on anti-development campaigners.
McKell Institute executive director Peter Bentley said: "If Sydney wants the major transport infrastructure developments and economic growth that should be part and parcel of an advanced global city, we need to...start building affordable, higher density housing."
Suggestions from the Grattan Institute would see further property development in existing suburbs providing greater supply of residential and rental property options.