NSW has the second strongest housing market in Australia, as new report shows rapid improvement in residential building industry.
The July 2014 edition of the Housing Industry Association’s Housing Scorecard has NSW leaping into 2nd place, on the back of its recent strong apartment building performance and a growing construction workforce that has risen to 324,000 since December 2013.
The housing scorecard report
The twice-yearly Housing Scorecard report provides a summary of national housing sector performance by State, measuring 14 separate industry indicators including the value and number of home renovations, number of housing approvals, loans to home-buyers, and number of house transfers (sales).
Rise up the rankings
The latest report shows momentum in the NSW sector is surging more than in any other state or territory, with a 17 point increase almost double the 9 point increase in Queensland’s previous score.
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Minister for Planning Pru Goward said the report card showed the Government is providing more housing opportunities in new release areas and established suburbs close to transport and jobs.
“We have seen more than 100,000 new homes built in this state since March 2011,” Ms Goward said.
“Smarter planning, like balancing new land releases with initiatives like Urban Activation Precincts will keep Sydney growing sustainably and sensibly for the future.”
Source: News Release NSW Government media release, 14 July 2014