As anyone living in Australia’s largest city can attest, there’s a lot of housing construction under way in Sydney, especially for units.
One only has to look across the skyline for evidence.
Be it north, south, east or west, cranes are everywhere.
According to data from the Australian Bureau of Statistics (ABS), construction began on 17,360 dwellings across New South Wales in the December quarter last year, similar to the 16,902 dwellings that were completed over the same period.
Over 2017 as a whole, a massive 61,623 residential dwellings were built across NSW.
As seen in the charts below from Macquarie Bank, the vast majority of those occurred in the capital, Sydney.
On a rolling 12-month basis, total completions have increased substantially in most regions over the past couple of years.
Given there were 88,624 dwellings under construction across New South Wales in the final three months of 2017, including a record 68,032 attached dwellings, the trends seen since the middle of 2016 look set to remain in place for some time yet.