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Sydney home approvals highest in a decade

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Home approvals and completions in Sydney are at the highest levels in nearly 10 years, according to housing figures in the NSW Metropolitan Development Program Monthly Monitor.

The monitor showed that 2,261 homes were approved in Sydney in May, with the total for the 2012/2013 financial year at 26,085 approvals.

Meanwhile, May saw 1,524 homes completed.

NSW minister for planning and infrastructure Brad Hazzard said that approvals were at the highest level since 2003/2004.

“The Hills led the way with 211 dwelling completions in May, followed by Camden (166), Botany (151), Blacktown (130), Parramatta (122) and Canada Bay (70),” Mr Hazzard said.

“Encouragingly, home completions in Sydney are continuing to increase at a faster rate than approvals.

"The results are great news for homebuyers."

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