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PHOTO: A record number of empty apartments, a growing shortage of buyers and tenants and record new supply has created an unprecedented phenomenon: ghost tower syndrome. (9News)

A record number of empty apartments, a growing shortage of buyers and tenants and record new supply has created an unprecedented phenomenon: ghost tower syndrome.
There are currently 9446 apartments listed for sale in Sydney with more than 20 per cent – or almost 2000 of them – new.
After the record unit building boom of the past three years, the Sydney market is at peak new supply.
In addition to record numbers of apartment listings, Sydney is also experiencing a glut of rental units looking for a tenant, says My Housing Market chief economist Dr Andrew Wilson.
The carnage is widespread from the city to Parramatta, Liverpool, Ryde, Chatswood and Bankstown.
READ MORE VIA 9 NEWS