As part of a multi-faceted approach to meeting the growing demand for new homes in NSW, homebuilders are benefitting from faster and cheaper approvals for new homes and renovations via a process called 'Complying Development'.
The process refers to building works that comply with specific building standards and can be approved without delay, saving homebuilders up to $7,000 on the cost of building a new home.
“It’s great to see that homebuilders can take the hassle, headache and delay out of planning by taking advantage of the fast track approval process,” NSW Planning and Infrastructure Minister Brad Hazzard said.
Figures from the Local Development Performance Monitoring Report for 2012-13 show that the use of complying development is growing, currently making up 25% of all housing approvals.
Mr Hazzard also spoke about UrbanGrowth NSW’s task of delivering a number of complex urban revitalisation projects, which will form the nucleus of urban homebuilding developments into the future.
The UrbanGrowth NSW portfolio, which Mr Hazzard says “will change Sydney and the state for the better”, comprises:
- Newcastle Urban Renewal and Transport Program
- Parramatta Road Urban Renewal
- Central to Eveleigh Urban Renewal and Transport Program
- Parramatta North Urban Renewal
- Green Square Town Centre
Other projects will be added over time.
“Over coming decades these projects will deliver 60,000 homes in NSW for more than 150,000 residents and create 45,000 jobs – while delivering up to $65 billion in Gross Regional Product,” Mr Hazzard said.