A BILLION-DOLLAR boom has seen more than 2700 development applications approved across Lake Macquarie in the past 12 months.
The south-western suburb of Cooranbong, which didn't make the top 10 suburbs in the past financial year, has shot to the top of the ladder, cracking $107 million in approved development value.
That's thanks to a raft of major developments, including a 399-lot subdivision, a 215-lot subdivision and a $25 million plan for new twin service stations on the M1.
It shows a growing interest in the city's western suburbs, the council's development assessment and certification manager Liz Lambert said, as the sheer number of development approvals in Cameron Park, Morisset, Edgeworth and Teralba skyrockets.
"Developers, investors and, ultimately, families, are recognising the enormous benefits of this part of our city," she said.
"These are our boom suburbs - excellent lifestyle, close to the lake and the bush, not far from public transport and major road networks, but still relatively affordable."
The single most valuable DA in the last year was a $37 million seniors housing complex at Mount Hutton.
While the number of DA's grew from 2868 in 2020 to 2021, to 3062 in 2021 to 2022, the overall value has dropped from $1.4 billion to $1.1 billion.
Ms Lambert said it shows plenty of people are taking the opportunity to renovate their homes or complete minor works.
The top five suburbs for value of approved DAs were Cooranbong, Belmont, Mount Hutton, Morisset and Cameron Park, with more than $340 million in development.
Suburbs including Catherine Hill Bay, Warners Bay, Edgeworth, Redhead and Murrays Beach also made the top 10.
