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Building approvals for houses in Canberra have hit yet another a new low, with 2024 recording the lowest number for a twelve-month period (680) since records were first published in 1970.
The NSW Government has recently published amendments to the Environmental Planning and Assessment Regulation 2021 and the Environmental Planning and Assessment (Development Certification and Fire Safety) Regulation 2021. The changes include the deferral of some fire safety requirements and a range of housekeeping amendments.
“Residential building approvals in 2024 increased from the decade low seen in 2023 but were nowhere near the levels needed to meet underlying demand for housing,” stated HIA Economist, Maurice Tapang.
The Housing Industry Association (HIA) is calling on the Federal Government to make a bold $12 billion investment in critical infrastructure in the upcoming Budget to unlock land supply and ease Australia’s growing housing crisis.