EcoDensity scheme recommended for Sydney
Vancouver's EcoDensity initiative has many lessons for Sydney, says Australian community authority Urban Taskforce.
The initiative encourages development in low to medium density areas to allow for increased residential space and to improve the city's ecological footprint.
Essentially, the plan calls for more residential properties in areas that are currently less densely populated.
Urban Taskforce chief executive officer Chris Johnson suggests: "Sydney needs to demonstrate leadership to Australian cities by adopting a similar pro-growth EcoDensity strategy."
Only last week (April 12), the Real Estate Institute of New South Wales (REINSW) released figures from their vacancy rate survey showing 1.8 per cent availability in the city, down by 0.1 per cent.
"The Sydney residential rental market is under a great deal of pressure," REINSW President Christian Payne said.
The Urban Taskforce highlights statistics that show numbers of detached houses in Sydney as almost double the percentage of those in Vancouver (60.9 per cent to 33.9 per cent), while Vancouver's duplex/terrace and apartment percentages are well above those of Sydney's.
With numbers of available rental properties and homes fewer than two per cent in the city and a growing population, a scheme like the one adopted in Vancouver could help Sydney's property hunters.