'No oversupply': NSW Government sued over apartment property development

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'No oversupply': NSW Government sued over apartment property development
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Property group Meriton is suing the NSW Government and the Greater Sydney Commission to force the approval of an apartment proposal in Sydney's north-west.

In a statement, Meriton said a summons had been issued in the Land and Environment Court, because"Meriton's proposal has already been approved by the Government's bodies".

"There is no more traffic created by our development because we are just replacing what were offices. "They show no real leadership on this issue and I tell you one thing, they're going to miss the stamp duty when it's gone."The Ryde local government area has become one of Sydney's most controversial development hotspots.

In the 2012-13 financial year, 434 dwellings were completed in Ryde, but that number ballooned to almost 2,400 last year.

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