Home News Dwelling approvals rise in Central Coast

Dwelling approvals rise in Central Coast

Font size :

The housing market of Central Coast is expected to continue its strong performance this year, after recording a huge jump in building approvals at the end of 2018.

The housing market of Central Coast is expected to continue its strong performance this year, after recording a huge jump in building approvals at the end of 2018.

Figures from the Australian Bureau of Statistics show that there was a total of 2,195 approvals issued for new dwellings across the Central Coast last year, up 54% from 1,425 in 2017.

In contrast to the previous year, recent approval figures were dominated by multi-unit dwellings, which comprised 56% of the overall figures. In fact, multi-unit dwelling approvals almost doubled over the year.

There was also a 19% increase in approvals of detached dwellings.

Housing Industry Association (HIA) Hunter executive director Craig Jennion said approvals in the government area were 6% above the annual target set forth in the Central Coast Regional Plan 2036.

"Total dwelling approvals were the strongest in the south of the municipality, a clear indicator of homeowner preferences and that the Gosford revitalisation program is very much underway," he said.

With these results, Jennion said Central Coast can expect very healthy levels of activity for the residential construction sector in early 2019.

"The approvals also reinforce the affordability advantages that the Central Coast has over other locations in NSW, particularly Sydney where housing remains far from affordable for average households," he said.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Mortgage News and Articles

Banning commissions is the best option for brokers and borrowers, says industry figure Banning commissions is the best option for brokers and borrowers, says industry figure

A broker has written an open letter arguing that removing commissions will benefit the whole industry Read more

More Aussies to struggle with mortgage repayments: Moody's More Aussies to struggle with mortgage repayments: Moody's The ratings agency expects an increase in delinquencies over the next few months ... Read more

Will Labor’s negative gearing changes only worsen the housing downturn? Will Labor’s negative gearing changes only worsen the housing downturn? Rate cuts would cushion the impact of the changes, but prices are likely to fall further ... Read more

Borrowers turn to customer-owned banks for home loans Borrowers turn to customer-owned banks for home loans They are ditching the Big Four banks due to the controversies uncovered during the royal commission's queries ... Read more

More mortgage news and articles

Sponsored Links

Saturday, Mar 23, 2019
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords