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NSW 'new home starts reach highest level in a decade'

The Housing Industry Association predicts that new home starts with reach the highest level in a decade this year.

The number of new homes being built in New South Wales is forecast to reach the highest level in a decade this year.

This is according to the latest edition of the NSW State Outlook from the Housing Industry Association (HIA).

It predicts a strong recovery of around 14 per cent this year in comparison to 2012, which would see dwelling commencements across the state hit 39,000.

This is the highest number since 2004 and represents a growing demand for more housing in the state.

Commenting on the forecasts, David Bare, HIA executive director for NSW, said that it was encouraging that activity levels were set to increase, thanks to strong population growth and low interest rates.

He added: "It is important that the state government continues to implement policies that support housing delivery, reduces the red tape burden on the industry and works with federal and local governments to reduce the tax burden on new housing."

Posted by Steve Douglas

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