Sydney Property Development Update

06/05/2012 11:12 pm


Sydney dwelling approvals were slightly down on recent months in February (1,561). The major cause was a fall in multi-unit approvals which was the second lowest in this financial year (898), according to the NSW Government's Sydney Region Metropolitan Development Program (MDP) Monitor.

Multi-unit dwelling approvals were relatively concentrated with over half in outer Sydney LGA's, Ku-Ring-Gai (297), Holroyd (113) and Canada Bay (73). Blacktown continues to have the highest level of detached housing approvals (97).

Net greenfield dwelling approvals increased in February to 299. The release areas with the highest approvals were Second Ponds Creek (66), Balmoral Road (45) and Lend Lease's Ropes Crossing (30).

548 new greenfield lots were produced in February which was the highest monthly level this financial year. Production was  focused mainly in the South West with 99 in Aerdrome, 90 in Harrington Park 11,83 in South Hoxton Park and 81 in Turner Road.

For more information see the February MDP Monitor