Property Council: Affordability in danger as approvals fall

NSW Property Council executive director Luke Achterstraat claims that “housing affordability is under pressure” because “low building approval rates” are “affecting the delivery of housing targets in New South Wales”:

“Since the unwinding of stimulus measures and the return of lockdowns across parts of NSW and Victoria, approvals for private houses have fallen 24.4 per cent from the record high in April,” Achterstraat said.

“In the year to March 2021, NSW delivered 29,500 new homes, well short of the 42,000 outlined by the Greater Sydney Commission [to meet population demand].

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