Urban Taskforce CEO, Tom Forrest, said that today’s ABS housing approvals data shows that on an annualised basis, the NSW housing approvals figures for September were the worst in a decade – even worse than the COVID-wracked 2020 in terms of approvals.
A mere 46,993 dwelling approvals were issued in NSW in the 12 months to September 2023, with the data for month of September 2023 showing a 12.7% decline in the last month (since August 2023) and a 36% decline in the monthly performance compared to the same month a year ago (September 2022).
To achieve the targets of the National Housing Accord, approvals in NSW will need to be around the 90,000 figure.* This means we need 7,500 new dwelling approvals each month.
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