New housing in NSW hits record high
The number of new housing approvals in NSW is at the highest level in nine years, according to data released by the Australian Bureau of Statistics (ABS).
Nationally, however, the ABS reports approval rates have fallen.
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“In NSW, approvals have increased by eight per cent against the five-year average in the period from April 2011 to August 2013, despite a fall of two per cent in approvals nationally in the same period,” NSW planning and infrastructure minister Brad Hazzard said.
The data showed a total of 41,309 houses were approved in NSW in the 12 months to August 2013.
This represents the highest approval rate since 2003/2004, Mr Hazzard said.
In August 2013 alone, the approval rate was up 31 per cent on the five-year monthly average.
“Our average monthly approvals are 17 per cent higher than in the previous five years under Labor, showing that the NSW government’s targeted policy is working and business and consumer confidence is returning to NSW,” Mr Hazzard said.
