NSW: Families left out in the cold in current housing market
The state-owned development corporation Landcom says moderate income families in NewSouth Wales cannot afford the kind of homes developers are building.
Landcom chairman WILLIAM KIRKBY-JONES says a major conference in Sydney aims to encouragedevelopers, architects and builders to offer affordable alternatives to traditional detached,brick houses.
He says recent studies suggest there are 200,000 moderate income families in Sydneyalone, earning between $40,000 and $60,000 a year.
He says about half of those are renters because they simply can't afford to buy whatis on the market.
Mr KIRKBY-JONES says they are too financially stressed to be able to afford home ownership,but the desire for home ownership is not diminishing.
AAP RTV tnf/arb/ld/rp *
KEYWORD: HOUSING (SYDNEY)
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