Demand for property drives Western Sydney construction
The government's plan to open up Western Sydney to more housing construction is paying off, recent figures show.
According to figures released by the New South Wales Department of Planning and Environment, 100,000 new dwellings have been built in Western Sydney since 2011, making the area a top candidate for those looking at buying residential property in the state.
This figure is a 12 per cent increase on the preceding three year period. Rezoning of land for 49,000 houses has taken place since 2011, compared to only 19,800 in the three years to 2011.
"Housing approval figures show rates are at their highest level in almost 11 years, which is boosting housing supply and making homes more affordable," said NSW Minister for Planning Pru Goward in a June 7 release.
Rapacious demand for housing is driving the building boom in the Western Sydney region, which in turn is propelling the Sydney housing industry's overall growth.
"Western Sydney is the powerhouse of Sydney's housing recovery - with more than a third of the 100,000 new homes delivered built in suburbs like The Ponds, Oran Park and Pemulwuy," Ms Goward commented.
Western Sydney to get 6,600 new homes
On top of this number, Western Sydney is set to have land opened up for 6,600 new homes in the near future. Land for this number of dwellings was released and rezoned by the NSW government in suburbs around Sydney.
These housing lots have been carefully chosen for their proximity to infrastructure and transport links. Marsden Park North will see the lion's share of this building activity, with up to 4,000 new homes to be built close to the upcoming Cudgegong Road Station and close to the Riverstone and Schofields stations on the Western line. Some land has also been reserved for a future Marsden Park station.
Other suburbs which will see more housing are Redbank in Richmond, with 1,400 new dwellings to be built near to Richmond Station, and 1,200 new dwellings near the Marayong train station in Blacktown.
Government's fast-tracking a winner
These impressive numbers are largely the result of the government's announcement last month of a mandate to fast-track approvals for new homes. This was not only an attempt to meet the growing demand for housing, but to also making home ownership more affordable and possible for first time buyers.
The process for faster and cheaper housing approvals is called "complying development". It allows building works to be approved without delay if they comply with specific building standards, saving builders up to $7,000.
Around 25 per cent of all housing approvals in the state are currently done through complying development, according to a March 2014 government report.