NEX Building Group, the largest residential builder in NSW, has urged the competition regulator to approve Stockland’s purchase of a $1.3 billion housing estate portfolio from Lendlease, saying delays in the deal announced last year were keeping much-needed land out of the housing market.

NEX, majority owned by Asahi Kasei Homes, also said in a submission to the Australian Competition and Consumer Commission that Stockland was better at bringing residential land to market than Lendlease as its business model required it to continually develop and sell housing lots.