Skip to content
Business Company News

SYDNEY FACES TWIN CRISIS WITH HOUSING SUPPLY AND INDUSTRIAL LAND DROUGHT

BUSINESS SYDNEY 2 mins read

Sydney faces a twin crisis with a housing supply problem running parallel with an acute shortage of industrial land to support business activity growth, Business Sydney Executive Director Paul Nicolaou said today. 

 

Mr Nicolaou said both issues were crying out for a solution with Sydney having the world’s lowest level of available industrial land with a vacancy rate of just 0.2 per cent – only a 12-month supply for industry needs.

 

As a result, Sydney risked losing more investment and jobs to Melbourne and Brisbane where industrial land is more plentiful, more widely scattered and more affordable.

 

“The acute shortage of industrial land is looming as a major challenge if Sydney is to restore its manufacturing base and ensure an affordable goods supply chain system to the whole of Sydney,” Mr Nicolaou said. 

 

“It is of great concern that only eight per cent of land in Greater Sydney is zoned industrial and only 0.2 per cent of existing industrial land is vacant — the lowest rate in the world. 

 

“Sydney must accelerate residential development to address Sydney’s housing crisis but also preserve industrial land to ensure the cost-effective distribution of goods to homes and businesses.

 

“With such a critically low industrial land vacancy rate, businesses are bypassing Sydney and taking their investments and jobs to Melbourne and Brisbane, where industrial land is cheaper and closer to labour markets.

 

“The industrial land issue will only get worse with population growth and more goods will have to be distributed over long distances to people and businesses across Sydney, increasing their cost.” 

 

Mr Nicolaou said industrial land can’t just be limited to western Sydney. It must be spread throughout Greater Sydney to reduce the need for trucks to travel longer distances across the metropolitan area adding to road congestion. 

 

“Having more trucks on the road is not what Sydney needs when we are trying to reduce road congestion and greenhouse gas emissions while acting to ease cost-of-living pressures,” he said.

 

“Sydney’s current supply of industrial land must be protected while working to achieve a more plentiful supply. Only this approach can put downward pressure on business rents, allow new businesses to enter the Sydney market and enable existing businesses to upsize.”  

 

MEDIA CONTACT David Jones 0448 285 996 david.jones@businesssydney.com


About us:

Business Sydney is the voice for business in Sydney. We advocate, influence and deliver policies and outcomes to drive economic growth and create opportunities to invest, work, live and visit our city. For nearly two hundred years, we have worked to advance Sydney as a global, competitive and liveable city.


Contact details:

David Jones

0448 285 996

david.jones@businesssydney.com

More from this category

  • Business Company News, Finance Investment
  • 23/02/2024
  • 09:38
Friday 23 February 2024

Focus on safety and sustainability, delivering for investors: IFM releases Sustainable Business Report for 2022/23

Pension-fund owned global fund manager IFM Investors has today released its Sustainable Business Report 2023, highlighting a 150-megawatts of behind the metre renewable energy capacity at its infrastructure equity portfolio assets, continued delivery of emission reduction strategies, and an increased focus on safety and stewardship activities. Over the year, IFM focused on three priority sustainability themes including, managing the risks of climate change and transition to a low carbon economy, demonstrating workplace leadership with a focus on promoting fair, safe and inclusive standards, and championing inclusion and diversity. IFM has continued to work closely with companies across its infrastructure equity…

  • Business Company News, General News
  • 22/02/2024
  • 09:55
lululemon

lululemon Launches Footwear in Australia

The new shoes will include casual and performance options, available in women’s and men’s styles. MELBOURNE, AUSTRALIA: lululemon announced today that its footwear collection…

  • Contains:
  • Business Company News, Food Beverages
  • 21/02/2024
  • 10:39
Tide Communications

HALLIDAY WINE COMPANION PRESENTS URBAN CELLAR DOOR IN BRISBANE AND MELBOURNE

Australia’s premier wine authority, Halliday Wine Companion, is bringing back its ever so popular Urban Cellar Door events in Brisbane and Melbourne, showcasing a…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.