18/07/2014 2:57 am
HousingMinister for Planning Pru Goward, and NSW Treasurer Andrew Constance said this week that levels of new residential construction in NSW have hit a 10 year high according to latest Australian Bureau of Statistics figures.
Ms Goward said figures released today revealed yet another strong housing
performance for NSW:
  • Residential construction commencements for the last 12 months hit 46,035, the highest level since September 2003 (this is almost double the low of 24,166 recorded in September 2009 under the previous Labor government)
  • Residential commencements from the March Quarter have now reached levels not seen since 2002
  • The latest March quarter commencement levels are 42 per cent higher than the ten year average 
“This is yet another sign of confidence in the NSW economy, stemming from smarter planning and the strong economic leadership of the NSW Government,” Ms Goward said.
“With expert population projections released earlier this year showing NSW will need one million additional homes in the next twenty years we have a lot of work to do, but today’s figures show we are getting on with the job." Ms Goward said.