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“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% |
“Australia’s population reached 27.4 million by the end of 2024, up by 445,900 people, or 1.7 per cent for the year,” stated HIA Senior Economist, Tom Devitt.
The Tasmanian election that no-one wanted to have is in full swing, and while the limited campaign period is unlikely to provide the usual platform to promote key policies and reforms, HIA is calling on both major parties to prioritise housing policies given the significant challenges across the state.
“Our dated and complex planning system is littered with speed bumps that could easily be removed”, said Brad Armitage, HIA NSW Executive Director.
“The Victorian government’s proposal to update home building contract laws to make them fit for use in the 21st century is welcomed by HIA,” stated HIA Executive Director, Keith Ryan.