NSW reveals $300m plan to fast-track housing supply
The Perrottet government has announced details of a plan it says will unlock the development of 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 funding from the Accelerated Infrastructure Fund in a move that the NSW Premier believes will “support the delivery of much-needed new homes”.
Premier Dominic Perottet divulged that the project is about “getting keys in doors and giving people the opportunity to own their own home”.
“To be able to unlock land and increase supply, our state needs the vital infrastructure in place to allow community growth — this includes roads, sewerage systems, stormwater drains and parks,” he added.
Paul Toole, Deputy Premier and Minister for Regional NSW, said the fact that 23 of the 41 eligible councils were in the regions highlights the state government’s acknowledgment of and commitment to eliminating statewide housing pressures.
He elaborated that foundations are important to home building, and this round of funding lays the foundations to unlock more land and build thousands of homes where they’re required.
“It builds on the investment we’re making right across regional NSW to help fast-track construction of new homes and ease housing pressures as communities grow,” Mr Toole added.
Since 2020, the Accelerated Infrastructure Fund (AIF) has supported 38 local infrastructure projects throughout eight Sydney councils, assisting in the development of 100,000 new homes and establishing 3,220 jobs.
Minister for Planning and Minister for Homes Anthony Roberts said the AIF represented a “great example of state and local government working together to accelerate projects that stimulate the economy, fast-track new properties, and create jobs”.
He added that the package is part of a suite of end-to-end measures aimed at putting downward pressure on housing prices and making home ownership a reality for more NSW residents.
“Our $2.8 billion housing package announced in this year’s state budget will help us pave the way for hundreds of thousands of new homes over the next four years,” he said.
The 41 council areas targeted account for 94 per cent of the state’s total population growth over the next decade, highlighting how the package looks to offer support immediately and in the long term.
Minister for Local Government Wendy Tuckerman outlined how councils’ knowledge and standing in these growing communities means they are best placed to assist the NSW government’s implementation of the scheme.
“Councils have the grassroots community knowledge needed to ensure our future homes, facilities, and parks flourish. Partnering with councils for the Accelerated Infrastructure Fund is going to achieve targeted, local outcomes as a result,” Ms Tuckerman said.
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