Tuesday 13 May 2025
MEDIA RELEASE
Home Approvals Still Falling Short of Housing Accord Target
New council level ABS building approvals data released today shows that NSW’s housing delivery pipeline remains under significant pressure, with approvals tracking well below the pace needed to meet the Government’s Housing Accord targets, nine months into the five-year agreement.
Property Council NSW Deputy Executive Director Anita Hugo said just five of the 43 councils with housing targets set by the NSW Government are set to approve the homes needed to meet targets.
“The ABS data show the 43 councils approved just 28,984 dwellings in the first nine months of the Housing Accord – an average of 3,220 a month, well short of the 5,366 monthly approvals needed to meet housing targets for Greater Sydney, Hunter and Central Coast, Illawarra Shoalhaven.
“Of the 43 councils, 19 are currently tracking to deliver 50 per cent or less of the housing targets they’ve been set with Lane Cove, North Sydney, City of Sydney, Woollahra, and Strathfield all currently tracking between 6 and 27 per cent of the approvals needed to be on target.
“Our analysis shows that if current approval rates continue at the same pace, only five of the 43 councils with housing targets will meet them by 2029 – Burwood, Canada Bay, Cessnock, Maitland and Hawkesbury,” Ms Hugo said.
The weak approval figures follow recent data showing NSW completed just 45,552 new homes in 2024 compared to 47,567 in 2023. Building commencements saw an even greater drop – from 46,331 in 2023 to 42,397 in 2024.
With the State Budget just weeks away, the Property Council is calling for a coordinated package of measures to accelerate delivery from approval to completion, including:
- Additional funding for council planning teams to boost capacity and capability.
- Permanent, well designed fast-track pathways for large-scale housing projects.
- Targeted investment in local enabling infrastructure to unlock housing growth.
- Strengthened coordination through the Housing Delivery Authority to help address delivery barriers where needed.
“We’ve seen promising reforms, but unless the Budget turns those reforms into delivery, we won’t close the gap,” Ms Hugo said.
The Property Council’s NSW Housing Summit 2025 on 12 June will bring Planning Minister Paul Scully and Housing Minister Rose Jackson together with property industry leaders to discuss solutions to the housing crisis.
ENDS
Media: Andrew Parkinson | 0404 615 596 | [email protected]