Alan Kohler's Talking Finance interviewed CoreLogic's Tim Lawless and Intrapac chief executive Max Shifman on the residential market. Mr Shifman argued apartments cost three to four times more per square metre than townhouses, so the push to build near transport hubs cannot deliver affordable supply.
As I told Alan Kohler on Talking Finance: “So, for me, it all comes back to sticks and bricks, it just has to, it's just my term for domestic style construction, it's less expensive, it's actually much quicker as well and ultimately much more affordable to people.”
I also said: “UDIA New South Wales did an assessment of all the announced TODs from the New South Wales State Government and all but one of them were not feasible because of the cost of development, all but one.”
And I added: “I mean, we're talking about the aspiration around the country of building 1.2 million homes over five years, it's nonsense, let me tell you.”
Intelligent Investor, 4 December 2024 — Read the full article