- February 5, 2010
- Posted by: admin
- Category: Finance News
Despite a flagging NSW market building approvals for Australian houses, units and other dwellings are on the rise, according to the Australian Bureau of Statistics (ABS).
The number of dwellings approved in Australia rose 2.2 per cent in the month of December.
Tasmania and Victoria recorded the largest surge in building approvals at 21.7 per cent and 11.1 per cent respectively.
In the private sector, house approvals rose 3.1 per cent in December, recovering from a fall in November.
Victoria, Western Australia, Queensland and South Australia showed positive private sector housing growth in December, recording growth of 4.6 per cent, 3.3 per cent, 2.2 per cent and 0.5 per cent respectively.
Private sector dwellings other than houses also increased last month, rising by 9.1 per cent.
The Urban Taskforce’s chief executive Aaron Gadiel said despite the positive December results, 2009 remains NSW’s worst year for private sector home approvals since the ABS data series began in 1984.
“Only 24,000 new privately financed homes were approved in NSW in 2009, down from a previous 10 year average of 40,000 homes per annum,” he said.
Mr Gadiel said all levels of government need to work together to boost the rate of new home development in NSW.
“We need the Federal Government to invest in NSW’s urban infrastructure, to help ease the way for more housing developments,” he said.
Source The Adviser