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New home completions beat 1971 record 

23 May 2017

The number of new home completions in Sydney in the year to February 2017, have broken the previous record high set in 1971.

A total of 35,871 new homes were completed in the Greater Sydney area, surpassing the previous 12-month record of 35,687.

Home approvals in NSW have also hit historic highs with 74,217 approved in the 12 months to March 2017. This is more than double the 35,697 homes approved in the same period in 2011.

Minister for Planning and Housing, Anthony Roberts, said: “These figures show that for more than three years, approvals have exceeded 50,000, which is the longest run above 50,000 in this State’s history.

“These record housing approvals and completions are improving housing supply, which is a major contributor to home affordability. A major priority of this Government is to make home ownership a reality for as many citizens as possible.”

NSW Treasurer Dominic Perrottet added: “With a record $23.4 billion pipeline of residential construction underway - almost 83,000 homes - the NSW Government is leading the country when it comes to increasing housing supply.”