The Australian Bureau of Statistics monthly dwelling approval shows NSW reaching high levels underpinned by apartment approvals, says the Urban Taskforce.
“The latest monthly approval results for January dwelling approvals show a big jump in apartment approvals in NSW,” says Urban Taskforce CEO, Chris Johnson. “The detached housing numbers are fairly stable but it is the apartments that have recovered from a dip last month and have bounced back strongly.”
“Overall NSW approvals are now at a high level but still below the amount that are needed for the projections by the Department of Planning and Environment to accommodate future growth.”
“At 2,754 approvals in January 2015 for higher density homes, this is the highest number in NSW for over 30 years. Clearly the boom in apartment living in NSW is continuing as more people are choosing this approach to living.”
“The value of monthly non-residential building approvals at $891 million is the highest for many years which is good news for this sector.”
“The results in both apartment approvals and non-residential approvals are both at record levels which should lead to a high level of construction activity over future years.”
See below graphs on High Density and Non- Residential: