Sydney’s rental crisis isn’t just confined to the residential market. Industrial sites are sparse and soaring rents are putting upward pressure on consumer goods.
The Minns government has been warned a failure to deal with Sydney’s “silent” crisis over the shortage of industrial land could force companies and billions in investment to move interstate, as a chorus of industry figures call for reform of the state’s planning rules.
The supply metric used by the development industry is the number of years of availability left of zoned industrial land with the necessary water, roads and stormwater infrastructure. Property Council NSW executive director Katie Stevenson warned the supply crisis could force companies to move interstate to lower costs.“Unless we act now to bring well-serviced industrial land online, the river of waiting capital will simply flow across the border, enriching Victoria and Queensland at our expense,” she said.The airport takes shape at Badgerys Creek.She urged the government to properly service existing industrial lands near the Aerotropolis in south-western Sydney.
“The retain and manage policy isn’t the panacea to solving Sydney’s industrial land crisis,” he said.
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