The Urban Developer Property and Economic Outlook Industry Series 2024

Coronation Property’s Managing Director and Owner, Joe Nahas, shared valuable market insights today at the Urban Developer Economic Series Breakfast in Sydney. Addressing the challenges for developers in NSW in 2024, including approval delays and labour shortages, Nahas highlighted the silver lining—growing demand for quality rental properties in Sydney due to post-pandemic migration.

One of the key takeaways from Nahas' address was the burgeoning demand for quality rental properties in Sydney, fuelled by a post-pandemic migration wave. This demand not only presents an opportunity for developers but also underscores the pressing need for affordable housing solutions in the city. Nahas expressed confidence in the Minns Government's commitment to supporting initiatives aimed at addressing this housing affordability crisis.

Coronation Property's ambitious $5 billion mixed-use projects across strategic locations in Parramatta, Harris Park, Merrylands, St Peters, Moore Point in Liverpool, and Chatswood signify the company's dedication to tapping into the thriving Build-to-Rent (BTR) market. With plans to provide homes for over 7,000 Sydneysiders in the pipeline, Coronation Property stands at the forefront of meeting the evolving housing needs of the community.

The event delved into various other topics pertinent to the Australian economy, including the primary forces guiding its trajectory, the impacts of inflation pressures on construction activities, and future projections for residential and commercial real estate sectors. However, it was Nahas' insightful analysis of the housing landscape in NSW that truly captivated the audience, offering a glimpse into the challenges, opportunities, and the path forward for developers in the region.

As Nahas expressed during the speaking event, while the road ahead may be fraught with obstacles, the unwavering demand for housing presents promise for developers willing to innovate and adapt to the changing times. With Coronation Property leading the charge, the future of housing in Sydney looks promising, driven by a shared vision of creating vibrant, sustainable communities for generations to come.