NSW continues to deliver strong housing approvals with more than 71,000 new homes approved in the 12 months to January 2018, according to the latest data from the Australian Bureau of Statistics (ABS).
Minister for Planning and Housing, Anthony Roberts, said that the NSW Government’s strategy to get first homebuyers into the market was working and the numbers show that the home building is maintaining its strong momentum.
“NSW housing approvals have remained at least 40 per cent above the State target of 50,000 annual approvals since November 2015,” Mr Roberts said.
“A strong approvals pipeline ensures that new homes continue to be built, adding to jobs and growth, and relieving the pressure on house prices.
“Since the last election, we have averaged almost 73,000 building approvals a year. That is more than twice the annual rate of building approvals under Labor’ anemic figures of just 31,600 approvals a year.
“This demonstrates the Government’s ongoing commitment to putting downward pressure on house prices for New South Wales families.
“We have streamlined the development application process for new homes and set a target of 90 per cent of DAs being approved in less than 40 days.
“On top of that, infrastructure has also been a critical factor in helping us deliver record levels of housing approvals, especially in Greenfield areas in the North West and South West.
“We will continue to invest in world-class transport, hospitals, schools and green space as well as ensuring that housing is affordable, Mr Roberts said.