Investors buy NRAS apartments as renters rise
![NRAS apartments at 1 Santley Crescent, Kingswood, have been sold to investors keen to make the most of the growing ...](http://web.archive.org./web/20170626202027/http://www.afr.com/content/dam/images/g/w/v/z/4/j/image.related.afrIndexLead.320x210.gwv9mk.png/1498091826199.jpg)
Investors have splashed out $20 million for two apartment blocks with rental assistance in Sydney's west to capitalise on the rise of renters, rising on the back of poor affordability.
Investors have splashed out $20 million for two apartment blocks with rental assistance in Sydney's west to capitalise on the rise of renters, rising on the back of poor affordability.
The University of Technology Sydney is in private discussions with the NSW government to buy the Powerhouse Museum.
Major developments planned for Sydney Harbour require strong leadership and independent institutions to work well.
The prediction of an easing, rather than a crash, in the country's two largest housing markets is reassuring.
The NSW government expects house prices to fall to 3 to 5 per cent next year, moderating stamp duty revenue.
The quarterly pace of gain in house prices halved in Sydney to 2.9 per cent from 6.1 per cent in the December quarter.
Accommodation close to the centre of Sydney remains largely out of reach for first home buyers and renters such as key workers.
Sydney design standards are adding $150,000 to the cost of an average apartment, Urban Taskforce says.
The Salter family have sold their Woolwich trophy home, Vailele, for a peninsula record.
NAB is warning about growing uncertainty, lower demand and a halving of house price growth in the nation's major capitals.
The figures show the Sydney market is easing and Melbourne holding up after five years of sustained growth.
Enjoy unlimited access to Australia's best business news and market insights across desktop, tablet and mobile
Already a subscriber? Log in