NSW Housing Approvals Highest in Eight Years

Brad Hazzard MP
Minister for Planning & Infrastructure
Minister assisting the Premier on Infrastructure NSW

The number of new houses approved in NSW continues to track at the highest level in eight years, data released today by the Australian Bureau of Statistics shows.

“The twelve months to July 2013 have been the best for new housing approvals in NSW since June 2005,” NSW Planning and Infrastructure Minister Brad Hazzard said.

“This shows that the housing industry is clearly placing its confidence in the NSW Government’s approach, which includes a half a billion dollar program of housing-related infrastructure projects,” Mr Hazzard said.

NSW is continuing to outperform comparable states, including Qld and Vic, in growth of housing approvals with over 3000 approvals per month over the past 11 months.

“From the moment we were elected, this Government has been focused on delivering the new homes Sydney needs and putting downward pressure on housing affordability,” Mr Hazzard said.

Key figures:

• NSW recorded 3358 housing approvals in July.
• NSW approvals for July ’13 are up 19% on the 5 year average from August 2008 (2828 dwellings).
• Our average monthly approvals are 15% higher than the previous five years under Labor.
• While housing approvals nationally for the period from April 2011 to July 2013 have fallen 2% against the five year average, approvals in NSW have increased by 8%.

“The NSW Government is delivering where Labor failed and ensuring there are thousands more housing options for families across NSW,” Mr Hazzard said.

“We are committed to making NSW number one and the continued rise in housing approvals shows business and consumer confidence is returning in this state.

“The new planning system, due in parliament soon, will also help continue the trend, making it quicker and easier to build a home with less red tape and quicker approvals,” Mr Hazzard said.

Source: ProjectLink.com.au

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