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Saturday 17 June 2017

Sydney on track to smash record dwelling completions

Record construction

Metropolitan Sydney has seen a huge acceleration in population growth since 2004, which resulted in an undersupply of dwellings. 

However, supply is now responding with gusto.

37,608 dwellings were completed over the year to March 2017, including 27,078 multi-units, while approvals and dwellings under construction figures suggest that this figure will head plenty higher still. 

As I've charted in more detail here previously, Parramatta and Blacktown are two of the LGAs set to see a record number of apartments constructed. 

2017 will end up being the biggest year on record for dwelling construction in the harbour city, while population growth may also slow as folks migrate to south-east Queensland.

In 2016 Australia completed just under 95,000 attached dwellings.