Sydney property prices might not drop yet, as planning problems persist – AustralianBroker, 12 January 2022

Urban Taskforce CEO Tom Forrest discusses the drop off in planning approvals in NSW.

“One thing we know is that you can’t build new apartments and housing unless you have planning approval to do so”

“The government in New South Wales has gone in the opposite direction to every other state in the Commonwealth. Every other state, in the second half of last year, saw more approvals, heralding more activity for jobs, construction and new homes. But not here in NSW: we actually went backwards, whereby the numbers went from 3,700 a month in September down to 1,900 in October and then 900 in November. That’s not supportable.”

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