ABS housing approvals data spells out why housing prices are going through the roof

Urban.com.au – 

ABS has today released the June data for housing approvals which shows that in NSW, the planning system approved 12.7% in less in June than was approved in May. The Council shut down for elections has started.

Urban Taskforce has warned the NSW Government that they faced a real risk that Councils would ease off on approvals in the lead up to what was to be the September elections.  Today’s data shows that the Government’s light touch on Councils has resulted in precisely that.  Worse, the Council elections have now been postponed till December and unless someone holds a blow-torch to the Councils and approval bodies, approvals will drop off further.

Read full article here.