More than 50,000 new homes have been approved in New South Wales in the 2013-14 financial year, the highest in a decade, demonstrating the Government’s focus on housing affordability.

Welcoming the news, NSW Minister for Planning Pru Goward said that these figures are encouraging for people looking to buy a new home or investment property. The Government has already begun planning to provide more housing for the future.

According to Ms Goward, NSW is the place to be for people looking to buy or build a new home with the Baird Government’s policies paving the way for record home approvals. She added that it indicated the strength of the state’s economy.

Australian Bureau of Statistics figures reveal that July was another bumper month for housing in NSW with the state recording 4,305 dwelling approvals. Highlights of the report include: NSW approvals are up 24 per cent on the monthly average (3,481) since the Liberal and Nationals Government came to office; NSW approvals are 62 per cent higher than the monthly average of the last five years under the previous government (2,656); Average monthly NSW approvals since the current government came to office is 3,481, or 31 per cent higher than the monthly average of the last government.

Ms Goward said it was also good news for the employment sector as a booming building industry creates more work for tradespeople and the businesses who supply them.