The five Sydney areas expecting to see the most high density apartments: BIS Shrapnel

Sydney’s apartment growth has been nothing short of amazing recently, and BIS Shrapnel has forecast in their Apartments in Sydney Suburbs 2014 to 2019 report that there are five local government areas expected to attract the most new high density apartment approvals over this period.

For the five years to 2018/2019, thousands of new apartments are expected per annum.

Here are the top five LGAs:

1. City of Sydney
   
   Unsurprisingly, the City of Sydney tops the list with an expected 3,700 apartments per annum. The report notes that this is still, by far, Sydney’s main location for apartment development.
   
   It is under considerable occupier demand and offers “ample supply potential”.
   
   
2. Parramatta LGA
   
   In what also could have been guessed by those keeping a close eye on the news, the fast growing Parramatta area is expecting a significant injection. This should see around 1,600 new apartments per annum, and will be in both the city centre and surrounds.
   
   Already, growth forecasts for this secondary CBD are significant. Increasingly, stories about the newest tallest towers are being seen for Parramatta.
   
   A $550 million step into Parramatta is also being taken by a Chinese developer, planning to bring 11 new towers, called Promenade, to the area.
   
   
3. Ryde LGA
   
   A total of 1,200 apartments per annum are expected, particularly due to the Epping to Chatswood railway opening up major sites for new development.
   
   Areas have been opened up to high density development due to this decision already.
   
   
4. Auburn LGA
   
   With 1,100 apartments per annum expected, activity is expected to be focused around Wentworth Point, Olympic Park and town centres along the rail corridors through the council area.
   
   
5. Ku-ring-Gai Shire
   
   And last on the list is Ku-ring-Gai expecting 900 apartments per annum. The area is apparently a consistent performer, usually attracting higher levels of development along the North Shore rail line.

For more of the findings of BIS Shrapnel's latest report, you can read Property Observer's summary here.