DAs top $1.2 billion for 2023-2024 Financial Year

Another $1.2 billion worth of development approved in Lake Macquarie in the 2023-2024 financial year means more than $7 billion has been poured into the city’s growth in the past five years.

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Lake Macquarie City Council averaged just 18 days to process 2000-plus development applications and DA modifications approved in the past 12 months.

Winten Group’s $116 million residential subdivision at Cameron Park emerged as the year’s single-most valuable approved DA in the city, approved by the Regional Planning Panel.

Council approved 17 DAs or DA modifications worth at least $10 million each, including a high-rise residential tower at Charlestown ($13.6 million), a residential units block at Edgeworth ($25 million) and a mixed-use commercial/residential development at Toronto ($36.6 million).

The Winten Group subdivision elevated Cameron Park into the number one suburb in terms of overall DA value for the year.

Edgeworth was second on the list in 2023-2024 with approved DAs worth $72 million, Charlestown was third ($55.5 million) and Cooranbong and Morisset rounded out the top five.

Council’s Director Development Planning and Regulation David Antcliff said the figures reflected continued growth and investment confidence in Lake Macquarie.

“It’s not just the overall value of these DAs that is encouraging to support the city’s growth – it’s their diversity,” he said.

“We’re handling applications for everything from medium-density infill developments in centrally located suburbs like Mount Hutton and Edgeworth to shopping centre upgrades, entertainment facilities and commercial premises.”

“It’s a demonstration of our city and the wider Hunter Region’s growth and our ongoing push to address Australia’s housing crisis.”

Despite strong demand for development across Lake Macquarie in the past 12 months, the number of DAs and DA modifications approved dipped to its lowest level in five years.

Mr Antcliff said that reflected a nationwide trend, with higher interest rates and soaring inflation eroding overall confidence.

“We are very keen to grow this city with suitable, sustainable development, and we are eager to assess applications as they are submitted,” he said.

Lake Macquarie Mayor Kay Fraser said expansion of the North West Catalyst Area, combined with the NSW Government’s push to increase housing density around train stations and other key infrastructure, meant further high-value development in Lake Macquarie was on the horizon.

“The challenge is always to balance the need for growth with the desire to retain the amenity and enviable lifestyle we enjoy here in Lake Mac,” she said.

“I’m confident we have the appropriate checks and balances in place to help strike that balance and ensure our city remains a place where people want to live, work, play, invest and visit for many years to come.”