05 April 2013
The February building approvals for residential and non- residential show NSW is well on its way to leading the country, says the Urban Taskforce.
“The states non- residential building approvals at $660 million is ahead of all other states,” says Urban Taskforce CEO, Chris Johnson. On residential approvals NSW leads the country in higher density approvals but is below Victoria on detached house approvals.”
“The strong performance of the higher density market which is mainly apartments is driving the NSW performance. We do however need to be careful as a small number of approvals for projects containing hundreds of apartments can skew the figures.”
“The detached house approvals are trending upwards which is a positive indication of more supply in this area.”
“The NSW Government’s recent announcements of rezoning of greenfield sites along with the identification of Urban Activation Precincts will further help with housing supply.”
“The big opportunity the government has is to drive the Parramatta Road corridor which was identified in the Draft Metropolitan Strategy as a “City Shaper”. The government must not let the WestConnex project delay urban renewal in the area but ensure this happens in conjunction with the infrastructure.”
The February building approvals for residential and non- residential show NSW is well on its way to leading the country, says the Urban Taskforce.
“The states non- residential building approvals at $660 million is ahead of all other states,” says Urban Taskforce CEO, Chris Johnson. On residential approvals NSW leads the country in higher density approvals but is below Victoria on detached house approvals.”
“The strong performance of the higher density market which is mainly apartments is driving the NSW performance. We do however need to be careful as a small number of approvals for projects containing hundreds of apartments can skew the figures.”
“The detached house approvals are trending upwards which is a positive indication of more supply in this area.”
“The NSW Government’s recent announcements of rezoning of greenfield sites along with the identification of Urban Activation Precincts will further help with housing supply.”
“The big opportunity the government has is to drive the Parramatta Road corridor which was identified in the Draft Metropolitan Strategy as a “City Shaper”. The government must not let the WestConnex project delay urban renewal in the area but ensure this happens in conjunction with the infrastructure.”
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