The Tamworth economy has logged its third $200 million building year this year.

The council has said new development statistics show another increase in the numbers of development applications received in the 2009/2010 financial year, sparking another result that was above the $200 million benchmark.

The figures show the number of homes built last year rose again above the previous year seeing 306 new houses established at a value of $64 million.

Overall, the number of development applications received by council last year (excluding subdivisions) was 1047 – an increase of 915 on the previous year. The total value of development to the city last year

was $205 million.

However these figures were down from a record year of $233 million in the 2008/2009 financial year and $211 million in 2007/2008.

Departing TRC general manager Glenn Inglis said the latest figures had given hope that the regional economy would continue to boost new investment and keep the business and industrial industries strong and growing.

“Sustained growth is the trend and trend is your friend,” he said

Mr Inglis said the latest figures repeated what had been happening in the local economy for the past four years.

“We’ve had those regular big building blocks like $40 million nursing homes, new shopping centres, the AELEC, the new Westdale sewerage and re-use scheme and some other big food processing upgrades and other industry developments that have been huge injectors,” Mr Inglis said.

“But it has been the residential development that has underpinned our construction workforce.

“That would be enormously comforting to the business sector – but it is importantly a huge carrot for investment from outside this region.

“There’s something very special happening with our regional cities – the new evocities – and they are showing similar signs of the financial and investment confidence we have here now.”