Housing supply

NSW reveals $300m plan to boost housing supply

NSW reveals $300m plan to boost housing supply

The Perrottet government has announced details of a plan it says will unlock development for tens of thousands of homes across the state.

A number of high-growth councils are eligible to apply for a share of the latest round of Fast-Track Infrastructure Fund funding under an initiative which the New South Wales Premier says “will support the delivery new, much-needed housing.

Prime Minister Dominic Perottet revealed the project was to “get the keys to the gates and give people the opportunity to own their own homes”.

“To be able to unlock land and increase supply, our state needs the vital infrastructure in place to enable community growth – this includes roads, sewer systems, storm drains and parks, he added.

Paul Toole, Deputy First Minister and Minister for Regional NSW, said the fact that 23 of the 41 eligible councils were in the regions highlights the state government’s recognition and commitment to removing pressures by statewide housing.

He explained that foundations are important for building homes, and this round of funding lays the groundwork to unlock more land and build thousands of homes where they are needed.

“It builds on the investments we are making across NSW to accelerate the construction of new homes and ease housing pressures as communities develop,” Mr Toole added.

Since 2020, the Accelerated Infrastructure Fund (AIF) has supported 38 local infrastructure projects across eight Sydney councils, helping to develop 100,000 new homes and creating 3,220 jobs.

Planning Minister and Housing Minister Anthony Roberts said the AIF represents a “great example of state and local government working together to accelerate projects that boost the economy, accelerate the construction of new properties and create jobs”.

He added that the package is part of a series of end-to-end measures aimed at putting downward pressure on house prices and making home ownership a reality for more NSW residents.

“Our $2.8 billion housing project announced this year state budget will help us pave the way for hundreds of thousands of new homes over the next four years,” he said.

The 41 targeted council areas represent 94% of the state’s total population growth over the next decade, underscoring how the package appears to offer immediate and long-term support.

Local Government Minister Wendy Tuckerman explained how the councils’ knowledge and position in these growing communities means they are best placed to help the NSW Government deliver the scheme.

“Councils have the basic community knowledge needed to ensure our future homes, facilities and parks thrive. Partnering with councils for the Accelerated Infrastructure Fund will deliver targeted local results,” said Tuckerman.

NSW reveals $300m plan to boost housing supply

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Last update: August 19, 2022

Posted: August 22, 2022