NSW housing projections ‘too modest': Taskforce

Belinda Luc

Sydney's housing supply targets will not be achieved if the latest official figures are anything to go by, Urban Taskforce chief executive Aaron Gadiel has claimed.

According to Mr Gadiel, the state government's claim it has "turned the corner" in new housing supply is incorrect.

"In April the government assured the community that Sydney's housing supply was back on track, but the latest figures from the ABS have blown the government's projections out of the water," Mr Gadiel said.

"By analysing ABS figures released yesterday, we now see that Sydney only secured around 14,400 extra homes in 2008-2009 and just 13,400 homes in 2009-2010.That's a shortfall of 7,600 homes in the last year alone," he said.

The government forecasted housing supply in Sydney would exceed 27,000 within three years, with an extra 18,600 homes in 2008-2009 and 21,000 homes added in 2009-2010.

"Not only are government targets too modest - actual housing supply is running at only two thirds of their targets."

Mr Gadiel said Sydney needed to more than double its housing supply if home prices and rents were to be kept under control.

"This means reform of the planning approvals system, new fairer rezoning rules and reduced development levies," he said.

 

Belinda Luc

Sydney's housing supply targets will not be achieved if the latest official figures are anything to go by, Urban Taskforce chief executive Aaron Gadiel has claimed.

According to Mr Gadiel, the state government's claim it has "turned the corner" in new housing supply is incorrect.

"In April the government assured the community that Sydney's housing supply was back on track, but the latest figures from the ABS have blown the government's projections out of the water," Mr Gadiel said.

"By analysing ABS figures released yesterday, we now see that Sydney only secured around 14,400 extra homes in 2008-2009 and just 13,400 homes in 2009-2010.That's a shortfall of 7,600 homes in the last year alone," he said.

The government forecasted housing supply in Sydney would exceed 27,000 within three years, with an extra 18,600 homes in 2008-2009 and 21,000 homes added in 2009-2010.

"Not only are government targets too modest - actual housing supply is running at only two thirds of their targets."

Mr Gadiel said Sydney needed to more than double its housing supply if home prices and rents were to be kept under control.

"This means reform of the planning approvals system, new fairer rezoning rules and reduced development levies," he said.

 

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