NSW housing approvals hit 15 year high

09/05/2015 3:37 am

housing-supplyNSW Planning Minister Rob Stokes today welcomed Australian Bureau of Statistics figures showing more than 170 new homes were approved every day of March in NSW.

Mr Stokes said almost 5,500 new dwellings were given the green light in March, with an increase in new units and apartments leading the rise.

“Approvals for March are up 48 per cent on the monthly average since the NSW Government came to office four years ago,” Mr Stokes said.

“We’ve also seen an 18 per cent increase compared to March 2014, cementing our position as the number one economy in Australia.

“These figures are further proof the Government is continuing to meet its commitment to the people of NSW to provide the homes we need to increase housing supply.

“We have released and rezoned land for more than 70,000 new homes across Sydney and we’ve increased the threshold for the First Homebuyers Grant to $750,000.

“We’ve expanded the Western Sydney Employment Area to unlock more jobs close to homes, and we’ve announced three homes and jobs precincts along the North West Rail Link to create up to 19,000 jobs and 12,000 new homes.

“We are forging ahead to unlock housing potential, making sure there’s more land available for people to buy a home. Increased housing supply means there’s more options for home buyers and downward pressure on the cost of a new home.”