Latest figures show Central Coast housing approvals have flattend off

Posted on 03 June 2010

The total number of homes approved on the NSW Central Coast leveled off in April, according to the latest Australian Bureau of Statistics building approvals data released on 1st June.

The total value of building approvals on the Central Coast for the 10 months to April 2010 was $519 million compared to $393 million for the same period last year. Coming off that growth over the past 12 months the figures for April showed a marked flattening in the housing trend.

Compared to 2009 new housing approval is 50% up overall YTD in 2010 on the Central Coast. Most of the growth in 2010 comes from the Wyong Local Government Area where new housing approvals have grown by 68% over last year. Gosford LGA is up 17% compared to 2009.

Renovations seem unaffected in the latest figs. With Gosford having older average housing it not suprising that it leads the way for the value of renovations taking place. Renovation approvals amounted to $51 million for the 10 months to April with approx double the value of work taking place in the Gosford LGA compared to Wyong LGA.

For Central Coast non-residential building approvals catagory, Gosford has recorded nearly all the growth being up 36% compared to last year with Wyong remaining fairly flat in the value of works approved.

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