Urban Taskforce Australia CEO, Tom Forrest, said that new ABS national quarterly housing data released today showed that the impact of rising construction costs along with ongoing uncertainty and delay in finalising planning reforms was leading to 12-month housing commencements in NSW falling off a cliff.
The strong message from today’s housing data to the Minns Government is that it has to go harder, faster and bolder in terms of planning and housing reforms in order to inject more certainty and confidence into the property development and construction sector.
We need to see more applications, more approvals, more new home commencements and more dwelling completions. Right now – all the metrics are heading south.
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