Even though, New South Wales has the highest number of new homes, which are ready for sale, experts feel that the state has reported inflated public housing figures, recently. It is also pointed out that a lot of new construction is required to boost the number of new properties across the state.
The number of new development in New South Wales increased by 47.8%, as compared to the national average of 37.8% in the year, till March 2010. This was confirmed by the figures released this week by the Australian Bureau of Statistics.
The New South Wales Planning Minister, Tony Kelly confirmed that this was the highest growth witnessed by any state or territory in Australia, in the last one year. He pointed out that from March onwards the growth in the state was
9%, as compared to the national average of 8.7%.
Kelly felt that the increase in housing activity in New South Wales is helping in increasing the national average. He felt that the improvement in these figure is healthy news for developers and property buyers, across the state.
Experts also feel that there has been a pick up in the economic activity in New South Wales due to these reasons. It was argued that there is still a long way for the housing market to improve in New South Wales.