More homes are being built across NSW than ever before.
Figures released by the Australian Bureau of Statistics showed 70,000 new homes were approved in NSW the past 12 months. This is 15 per cent more than the previous year and well above the 50,000 annual target set by the NSW Government.
Newcastle and Lake Macquarie, Illawarra and the Central Coast regions are leading the way for new housing developments.
The continuing trend is also contributing to the record number of houses under construction with 65,000 getting off the ground during this same period.
Apartments and townhouses accounted for 60 per cent of all new homes being built.
As of March this year, more than 74,000 homes were under construction across NSW, more than double the number of new homes being built just four years ago.
For the past 12 months, annual completion rates have remained above the 45,000 new homes built, the highest total for more than a decade.
The latest figures confirm the NSW Government’s commitment to improving the planning system is boosting housing supply across the state. This is also being supported by suitable infrastructure such as improved transport links and the provision of recreation spaces.