Sydney housing completions maintain historic high

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Sydney housing completions maintain historic high

The number of new homes being delivered in Greater Sydney remain at a historical high, according to the latest NSW Government data released today.

Figures from the Department of Planning and Environment’s Metropolitan Housing Monitor show there were 35,120 houses completed in Greater Sydney in the 12 months to July 2017.

NSW Treasurer and Acting Minister for Planning and Housing, Dominic Perrottet said the result is 14 per cent higher than in the same period for 2016.

“New South Wales is experiencing a consistently high level of housing construction like we have never seen before,” Mr Perrottet said.

“This government is committed to delivering more homes across Sydney which helps new homebuyers by putting downward pressure on house prices.

“The construction of new homes not only increases supply for new homebuyers but it also significantly adds to the economy with strong jobs growth in those areas where homes are being built.

“This is more than double the last full year of the Labor government, with only 14,140 new homes completed in 2010.

In the 12 months to July 2017, the total number of housing approvals in Greater Sydney was 53,600, which is 8 per cent higher than the previous 4-year average.

“Building approvals have yet again exceeded the state priority target of 50,000 homes for more than three and a half years,” Mr Perrottet said.

Half of all the completions in Greater Sydney were in the local government areas of Parramatta (4,621), Blacktown (2,835), Camden (2,245), City of Sydney (2,157), Liverpool (1,950), Cumberland (1,903) and The Hills Shire (1,894).

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