The Next Residential Boom For NSW

The next residential boom for NSW lies in the Hunter Valley, mid north coast and the central coast, as employment in these areas accelerates, the NSW 2018-19 budget shows.

The value of residential building approvals in regional NSW is at a record high of over $4.5 billion over the last year. The Hunter Valley, central coast and Richmond Tweed account for 38.8% of demand.

In more concentrated regional areas such as Newcastle, residential approvals have also boomed and are up 57% over the past three years.

Employment growth in regional areas have risen 2.4 per cent a year rising from the long-term average of 1.5 per cent a year, in the past three years while they continue to absorb new migrants from Sydney seeking cheaper housing.

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