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Thu June 24 2021

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New home builds in Sydney reach 10-year high

29 Aug 13 The number of new homes being built in Sydney, Australia, has jumped by more than a third in a year and hit a 10-year high.

New figures from the Department of Planning & Infrastructure show built in Sydney during the last financial year. This is a 35% increase on the previous year and the highest figure since 2003/04.

Western Sydney councils saw the bulk of the growth.

Housing approvals are also on the rise, up 17% year on year to 28,557.

“Housing is such a crucial economic driver because of the jobs it creates and the flow on investment as people buy new appliances, carpet, blinds and furnishings,” said New South Wales premier Barry O’Farrell. He added that the new planning system will also help continue the trend, making it quicker and easier to build a home with less red tape and quicker approvals.
 

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