Boost for homebuyers as housing approvals rise

Published 5th March, 2014 in Infrastructure, Economy

Approvals have risen by 5% in January, signalling a boost for the NSW housing industry.

Aerial view of new housing estate
Aerial view of new housing estate

NSW has kicked off 2014 with yet another rise in housing approvals, recording 4,736 approvals for new homes in January – a boost for the NSW economy and great news for homebuyers.

“Housing approvals in NSW got off to a great start this year with approvals for January up 5% on December 2013,” NSW Planning and Infrastructure Minister Brad Hazzard said.

The 12 months to January 2014 saw 47,987 new homes approved in NSW. Since 2012, there has been a marked upward trend in housing approvals. Figures recently released by the Australian Bureau of Statistics show that NSW housing approvals for January 2014 are up 53% on the 5 year average from February 2009.

Key figures:

  • 4,736 dwelling approvals in January 2014
  • 47,987 new houses approved in NSW in the 12 months to January 2014

“NSW continues to outperform the other states – which is great news for homebuyers and shows that business and consumer confidence is returning to the State,” Mr Hazzard said

“NSW Government policy continues to deliver a double win for NSW – more homes means more housing choice for NSW residents and more jobs as the houses are built.

“We will continue to make changes that bring confidence to the housing industry and to deliver for the people of NSW,” Mr Hazzard said.

Published 5th March, 2014 in Infrastructure, Economy