NSW has started 2017 with building approvals rising at the fastest rate of any state in Australia, latest data from the Australia Bureau of Statistics (ABS) shows.
Minister for Planning and Housing, Anthony Roberts said NSW building approvals rose 9.4 per cent in the last year; the strongest growth of any State while, for the rest of the country, building approvals actually fell 19.5 per cent over the same period. The only other state to report growth was Victoria with just 1.5 per cent growth.
“The NSW Government’s efforts to lift housing supply are clearly evident, with 73,316 approvals in the last year, close to the recent record highs.
“That’s more than double the annual average pace of 31,644 in Labor’s last term in office.
“The huge lift in approvals is flowing to record housing investment which underpins the strength of the NSW economy, the growth in new jobs and the record number of new home completions, well over 1,000 each week.
“These figures show the government’s commitment to improve housing supply is paying off and it’s evidence that our efforts to simplify and streamline the planning system are working.
“We are delivering more homes and working hard to deliver an improved range of housing sizes and types where people need them.
“But we are not just building houses; we are building the infrastructure to support the state’s housing boom. This is a whole-of-government approach.”
NSW Treasurer, Dominic Perrottet said NSW was sustaining approvals above 70,000 a year - significantly higher than the state target of 50,000.
“The statistics show that approvals have exceeded 50,000 for more than three years, making it the longest run above 50,000 in the NSW’s history.”
“With a record 78,400 new homes under construction across NSW, we expect the number of new completions will continue to rise even more this year and into 2018”.
06.03.2017 | pdf | 132.4 KB