‘Enclaves for the rich’: new luxury housing is putting parts of Sydney out of reach to all but the very few

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A wave of redevelopment in Bondi, the inner city and lower north shore is pricing people out – even while governments profess to be focused on affordability

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Bondi used to be home to surfers, backpackers and artists. But the bohemian vibe of Sydney’s most famous beach risks being swamped by a wave of high-end developments.

Older apartment blocks that provided affordable housing are being bought by companies and wealthy individuals, who are turning them into smaller blocks with fewer luxury dwellings, or sometimes single homes.

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