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$vuetify.icons.faPhone1300 650 620

Hunter and Central Coast home approvals escalate

Media release

Hunter and Central Coast home approvals escalate

Media release
Latest ABS figures on new home building approvals indicate that detached home activity across the Hunter and Central Coast performed strongly in 2021, despite the impact of the global pandemic and the closing of the HomeBuilder stimulus, reported the Housing Industry Association.

“In 2021 detached dwelling approvals increased 13 per cent in the Hunter and 45 per cent on the Central Coast compared to the 2020 calendar year. Accounting for 65.2 per cent of all approvals in the Hunter and 67.3 per cent on the Central Coast detached homes remain the preference for home buyers locally,” said Craig Jennion, HIA Hunter Executive Director.  

“Over the same period multi-unit approvals also increased by 39 per cent in the Hunter and 30 per cent on the Central Coast compared to the year earlier.  

“In total 7,380 approvals were issued for new dwellings across the combined HIA Hunter region during 2021, a increase of 25 per cent from the previous year.  The Hunter approvals increased by 21 per cent to 5,760 while the Central Coast increased an impressive 40 per cent to 1620”.  

“Much of the heavy lifting for the residential sector continues to occur on the Central Coast and in the Lower Hunter, with the local government areas of Central Coast, Lake Macquarie, Maitland and Newcastle continuing to be the top locations for approvals, accounting for 73.68 per cent of total approvals”, explained Mr Jennion.

“Regionally Cessnock LGA was again a big mover with total housing approvals increasing by 30 per cent. Detached dwelling increasing 23 per cent while multi-unit approvals increased by 123 per cent”.

The value of approved major renovations and alterations also surged with Hunter approvals increasing by 26 per cent and the Central Coast by 37 per cent.  The combined value of $499,458,107 was a 29 per cent increase on the year prior”.  

“Looking ahead, we are forecasting residential building activity to remain strong as households remain very active in the market. This is evidenced by the strong housing finance data, current low interest rates, rising house prices and strong employment conditions. Together this should ensure the demand for new homes remaining solid,” concluded Mr Jennion. 

House 12 mths to: Dec-20 12 mths to: Dec-21 % change
Central Coast 752 1,090 45%
Cessnock 683 843 23%
Lake Macquarie 969 1,057 9%
Maitland 893 902 1%
Newcastle 346 297 -14%
Port Stephens 209 325 56%
Dungog 45 46 2%
Singleton 4 45 1025%
Muswellbrook 9 45 400%
Scone 15 33 120%
Great Lakes 142 161 13%
  4,067 4,844 19%

 

Unit Approvals 12 mths to: Dec-20 12 mths to: Dec-21 % change
Central Coast 408 530 30%
Cessnock 48 107 123%
Lake Macquarie 344 484 41%
Maitland 339 339 0%
Newcastle 604 739 22%
Port Stephens 64 327 411%
Dungog 4 0 -100%
Singleton 0 0 -
Muswellbrook 0 0 -
Scone 0 0 -
Great Lakes 40 10 -75%
  1,851 2,536 37%

 

Total Dwellings 12 mths to: Dec-20 12 mths to: Dec-21 % change
Central Coast 1,160 1,620 40%
Cessnock 731 950 30%
Lake Macquarie 1,313 1,541 17%
Maitland 1,232 1,241 1%
Newcastle 950 1,036 9%
Port Stephens 273 652 139%
Dungog 49 46 -6%
Singleton 4 45 1025%
Muswellbrook 9 45 400%
Scone 15 33 120%
Great Lakes 166 171 3%
  5,902 7,380 25%

 

For more information:

Craig Jennion

Regional Executive Director - Hunter (Newcastle)
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