ABS shows NSW under Labor at the back of the pack for building commencements
After woeful building approvals figures published by the Australian Bureau of Statistics last week, today’s building activity data shows that NSW is the worst performing State when it comes to building commencements in the last quarter. The Minns Labor Government’s planning reforms are failing to improve home approvals, meaning NSW is lagging behind our required housing targets.
Shadow Minister for Planning and Public Spaces, and Housing Scott Farlow says the latest ABS building commencement data shows that under Premier Chris Minns commencements have fallen in the September quarter by 35.83% and by 28.4% compared to the same time last year.
“Approvals are down and commencements are down, which shows that the Minns Labor Government is making matters worse for the building and construction sector,” Mr Farlow said.
“The latest figures from the ABS show that dwelling unit commencements in NSW have dropped more than any other State both on a quarterly and annual basis, with dwelling units commenced dropping by 35.83% compared to last quarter and 28.4% compared to last year.”
|
|
Quarterly Change |
Annual Change |
|
New South Wales |
-35.83% |
-28.40% |
|
Victoria |
20.95% |
-6.41% |
|
Queensland |
-13.57% |
-10.72% |
|
South Australia |
29.34% |
-5.06% |
|
Western Australia |
-1.71% |
-1.88% |
|
Tasmania |
-16.62% |
-8.94% |
“Whether it’s families trying to get their foot in the housing market or young people trying to rent a property, we know that there’s no shortage of demand in the market. The difference in NSW is that Labor introduced a $12,000 tax on new homes, and it is having a big impact on the number of applications and commencements.”
“With applications also falling it is unlikely that there will be any substantial rise in commencements when the next quarters figures are released, which makes you wonder how Labor will deliver on their promise to build 377,000 new homes over the next five years.”
“Chris Minns needs to reassess his approach to housing in NSW, and take a more holistic approach that addresses both demand and supply factors in order to ease pressure on rents and reduce prices in the housing market,” Mr Farlow said.
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