Coronation’s Head of Urban Transformations, Aras Labutis, has spoken to The Australian Financial Review about the need for greater housing choice across Sydney’s middle-ring suburbs.
As Australia’s population ages and household needs change, more people are looking for homes that allow them to remain connected to the neighbourhoods, services and social networks they know.
However, the availability of well-designed, appropriately sized housing remains limited in many established suburbs. For downsizers, this can mean choosing between staying in a home that no longer suits their needs or moving away from their local area altogether.
Speaking to The Australian Financial Review, Coronation’s Head of Urban Transformations, Aras Labutis, said one of the industry’s central challenges is delivering apartment projects that remain feasible below the luxury end of the market.
“The choice that’s around is probably more skewed towards pretty high-end products, which means that it’s more expensive and not necessarily accessible for everyone,” Aras said.
“There’s a bit of a gap in that more accessible part of the mid-market where most people are.”
The article explores how high transaction costs, limited supply and project feasibility are restricting movement within the housing market. It also highlights the shortage of smaller homes and higher-density housing in established suburbs, making it difficult for people to downsize while remaining close to family, friends and familiar services.
For Coronation, addressing this challenge requires a coordinated approach across government, planning authorities and industry.
Creating greater housing diversity in well-connected locations can help people find homes that better suit each stage of life, while also making more effective use of existing infrastructure and supporting stronger, more inclusive neighbourhoods.