The latest monthly housing report shows there’s been a rapid increase in housing approvals with the housing construction sector heating up in good news for homeowners, tradies and builders, as well as the NSW economy.
The latest monthly figures for December show 3,720 homes were approved in the Sydney metropolitan area, while 3,469 homes were completed.
Housing figures for the Sydney Metro Region during 2013 show 33,970 new homes were approved, compared with about 15,000 in 2009, and approvals in the six months to December were 51 per cent higher than in the previous six months.
More housing stock on the market means downward pressure on the price of new homes and more choice, which helps young families as they enter the housing market.
The Commonwealth and NSW Governments have announced an additional $1.8 million to support the recovery efforts of the Blue Mountains community following the devastating fires in October 2013.