The Department of Planning and Environment has released its latest five-year forecast for housing supply in Sydney, showing a solid pipeline of construction.
Executive Director at the Department, Justin Douglas said the new forecast showed almost 192,000 new dwellings would be built across the city by mid-2023.
“Sydney needs to build 725,000 new homes in the next 20 years, or around 36,000 per annum, to accommodate a growing population,” Mr Douglas said.
“We’re forecasting to meet that demand over the next five years, with just over 38,000 homes per year on average planned for the city.”
He said the Department’s forecast showed the top five Local Government areas where additional new homes would be built over the period were Parramatta (22,100), Blacktown (18,300), Sydney (14,850), Liverpool (11,950) and The Hills (11,700).
Mr Douglas said the forecast was used by Government Agencies, Local Councils and others to inform strategic land use, infrastructure planning and service delivery to support new housing development.
“The forecast helps to inform decisions on future land use zoning to ensure there’s a solid pipeline of new housing supply,” Mr Douglas said.
“It takes account of current residential developments under assessment, approved but not commenced construction, and those under construction, as well as analysis of likely future development under current zoning and planning controls.”
He said the preparation of the forecast had involved significant input from Local Government, the development industry, service providers, and State Agencies.
