NSW Building Approvals for September 2021

NSW recorded a large jump in attached dwellings this month. Approvals in September were the highest since 2018.

The jump in September has caused the six month average to remain unchanged, with the previous recent high watermark - April - dropping out of the six month window.

This is significant, as the reopening of the international border should mean an increase in the demand for apartments. With the population set to resume its increase, Sydney will need high volumes of construction, similar to the peaks through the late 2010s, to maintain a balance between demand and supply of rental properties.

About This Image These charts are based on data from the Australian Bureau of Statistics Building Approvals release. Seasonally adjusted values are used.