24 February 2014
The recent figures from the Sydney Metropolitan Program show that three quarters of the high level of housing approvals are for apartments but delays on planning Urban Activation Precincts could slow down supply, says the Urban Taskforce.
“ The December housing approval figures show that 76% were for multi-unit apartment projects which continues the trend at this level,” says Urban Taskforce CEO, Chris Johnson. “For the last 3 months of 2013 apartments were 73.2% of all housing approvals and 71.1% of all housing completions.”
“Clearly Sydney is swinging towards more urban apartments generally in inner city areas. We are concerned however that a number of the government’s Urban Activation Precincts (UAPs) are on hold as is the proposed new planning act and these delays will reduce the supply of appropriate land for apartments.”
“With interest rates at a low level and an increasing number of investors and owner occupiers interested, theyare becoming very attractive projects. There is also a clear swing towards more urban living with its greater variety of amenities by a number of demographic groups. It is important that the planning system supports zoning for apartments where people want to live.”
“The December figures indicate that the LGAs with the greatest number of apartment approvals are Parramatta (463), Waverly (367) and Canterbury (316). The highest number of apartment completions were in Botany Bay (368) and Willoughby (295).”
“While the majority of approvals are for urban apartments, the Urban Taskforce fully supports a diversity of dwelling types including detached houses in Sydney’s growth areas. We need many types of housing to suit our diverse and cosmopolitan community.”
