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{{propApi.successMessage}} {{region}} Change locationSigns of housing supply life in unit approvals (NSW)
Signs of housing supply life in unit approvals (NSW)
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The Australian Bureau of Statistics today released its monthly building approvals data for January 2025 for detached houses and multi-units covering all states and territories.
“Moreover, January 2025 marked the second largest month for unit approvals in NSW seen since July 2017 - the height of the apartment boom,” added Mr Armitage.
The total number of units approved in the three months to January 2025 was 8,700 (in seasonally adjusted terms), which is 80.8 per cent higher compared to the previous quarterly period and 91.8 per cent higher compared to the same time in the previous year.
“It is great to see several of the underlying fundamentals for consistent supply of medium to high density housing starting to turn, which is a positive story for industry and households.
“Now we need to see the same level of recovery in detached approvals, particularly in greenfield areas.
“The total number of detached houses approved in the three months to January 2025 was 5,300, which is 3.5 per cent lower compared to the previous quarterly period and 9.5 per cent lower compared to the same time in the previous year.
“Unfortunately, detached home building has commenced the new year headed in the wrong direction.
“New South Wales’, and especially Sydney’s, significant shortfall in shovel ready land is becoming more dire by the day. We need to see the same level of urgency to approve apartment buildings in infill areas, applied to greenfield developments.
“We need to prioritise building more homes everywhere of every type if we are going to deliver the 377,000 homes we need to 2029,” concluded Mr Armitage.
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