Census Mapping

Building approvals are a good indicator of market confidence and economic activity. Mecone Urban Planning has analysed the latest ABS census data on building approvals, and it appears that the dip in residential building approvals caused by the COVID19 pandemic has passed, with both the volume and value of approvals since 2021 reaching pre-covid levels. By assessing approvals at smaller geographies (Statistical Area 2), the data shows that the outer ring of Sydney – namely, the North West and South West Growth Areas are leading the way. There are also strong concentrations of approvals in middle ring areas such as Bankstown and Ryde. In the inner city, approvals are generally focused around the Green Square area.

The value of activity has also increased and shows signs of COVID19 recovery, with the Western Sydney Employment Area, Sydney Olympic Park and the Sydney CBD showing signs of significant economic value being created through investment in building activity. 

It’s clear that greenfield housing, urban renewal, and planned precincts not only help COVID19 economic recovery, but enables our urban environment to be more resilient.  The challenge now will be to support these areas with better infrastructure to service a growing population and employment base. 

 

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