The building home approvals figures released by the Australian Bureau of Statistics today for September, have NSW’s approvals at half that of Victoria which has a lower population. For every 10,000 people NSW has 47 approvals to Victoria’s 109 approvals and Queensland’s 73. NSW was the lowest in Australia on a per capita basis.
The Urban Taskforce’s chief executive, Chris Johnson said “while the previous month of August did show a more positive trend for NSW this seems to have been due to unusual circumstances”. “These results for September 2011 compared to ten years ago for the same period represent a34% reduction in home approvals”, Chris Johnson said.
“While it is admiral for the state government to announce the rezoning of thousands of housing lots in Western Sydney, the reality is that many of these are not turning into approvals. This may well be due to high levies imposed on new housing lots in NSW.
The NSW government needs to address this critical issue as to why NSW is lagging so much behind other states”, Mr Johnson said The Urban Taskforce is a property development industry group, representing Australia’s most prominent property developers and equity financiers.
Thank you Urban Taskforce for this article