A “record” number of homes were built in Sydney over the past year, according to Urban Taskforce. Whereas the past four years have seen an average of 27,493 homes built per annum, 35,871 have been completed over the past twelve months.
According to Urban Taskforce CEO Chris Johnson, this number demonstrates a positive commitment being made from the property industry – but a commitment that needs to be reinforced if we are to see the number of homes we need being constructed over the coming decades.
“The completion of 35,871 new homes in a year is well above the four year average of 27,493 and the previous year’s results of 28,155,” says Johnson. “This record number of completions is good news for Sydney’s housing supply but is still slightly behind the average of 36,250 homes required over the next 20 years.
“The NSW government must keep a firm hand on the approval process for new housing to ensure high completions on new homes continues at the record levels.”
Out of all council areas in Sydney, Parramatta displayed the largest levels of growth. 5,000 new homes were completed in Parramatta in the last year alone, which number comprises 4,916 apartments and 151 houses. In comparison, just 2,247 new apartments were completed in the Sydney City Council area.
Other high-performing growth areas included the Bayside area (3,440 apartments), Blacktown (73 apartments, 2,123 houses), Camden (168 apartments, 2,145 houses) and Canterbury Blacktown (1,853 apartments, 446 houses).