Despite this, there is no looming oversupply of dwellings in Sydney except in a few small pockets, such as the inner south.
This will lead to challenges for owners of existing office space which may begin to look tired or dated by comparison to the 6 star Barangaroo stock.
After all, the way people want to work and live has changed significantly in the past few decades, and expectations have been massively upgraded.
Some older office stock will incur capital expenditure cost for upgrading, and other stock will be sold off to Chinese funds for conversion into Central Business District apartments.
Construction well underway at Barangaroo
George Street as we know it today will be unrecognisable by the end of this decade.