- Posted on 22 Oct 2025
Buying units near Sydney’s train stations has become more affordable since COVID 19, however rents have not, a new study from the UTS has found.
The research reveals a growing imbalance in housing affordability, raising questions about whether the state’s Transport Oriented Development strategy is keeping pace with changing housing demand and post-pandemic daily routines.
Lead author Associate Professor Song Shi, from the UTS School of Built Environment, said that with high‑density construction accelerating around rail hubs, the work‑from‑home shift has permanently reshaped housing demand in ways planners have yet to fully address.
The paper, The Impact of Train Accessibility on Housing Affordability: Evidence from COVID‑19 and the Work‑from‑Home Shift, examined Sydney’s housing markets before, during and after the pandemic to analyse affordability across suburbs with and without train stations.
Before the pandemic, living near a train station was less affordable, particularly for detached houses, because of the so‑called accessibility premium. As commuting patterns changed and remote work became common, that premium weakened.
The study found that buying an apartment near a train station has become more affordable for homeowners and investors since the pandemic. In contrast, rental affordability for apartments showed no improvement.
“Our data shows a clear split in outcomes: purchase affordability near train stops is improving, but renters, especially those relying on rail, are still under pressure,” said Associate Professor Shi.
Remote work remains concentrated among higher‑income earners, while lower‑income households that travel to work on public transport are facing continuing rental pressures near train hubs.
The results point to declining ownership and investor demand for rail accessible units, while rental demand remains strong among lower income households who rely on public transport.
Rental affordability for houses in train‑stop suburbs improved modestly.
These findings raise important considerations for the NSW Government’s Transport Oriented Development program, which aims to deliver more homes around train stations. Declining ownership and investment demand in those areas suggest that the program’s focus on high‑density development may not match today’s market conditions and lifestyle patterns.
“Transport‑oriented planning is sound in principle, but affordability patterns have changed. To be effective, these strategies now need to reflect shifts in work, commuting and housing preferences,” said Associate Professor Shi.
The study concludes that housing policy should encourage a more flexible approach to density, balancing high‑rise apartment projects with an increased supply of low‑rise housing types such as terraces, duplexes and semi‑detached homes throughout metropolitan areas.
The work‑from‑home divide also has equity implications. The study highlights potential solutions such as transport subsidies, build‑to‑rent programs and stronger rental protections.
Associate Professor Shi said the findings show that housing near train stations is more sensitive to external shocks and behavioural change than previously understood. He recommends flexible zoning, investment in local amenities and mixed‑use projects to support the long‑term viability of high‑density areas.
“The people who cannot work from home are the ones still paying for accessibility. That’s a challenge transport‑oriented development policy must now confront,” said Associate Professor Shi.
“The accessibility premium is shifting, not disappearing. It’s declining for owners but still rising for renters. If we want transport‑linked housing development to succeed, policy must respond to both sides of that equation.”
Research paper: The Impact of Train Accessibility on Housing Affordability: Evidence from COVID‑19 and the Work‑from‑Home Shift, Transportation Research Part A: Policy and Practice. Authors: Song Shi, Yuming Ou, Tuo Mao.