$500 million has been pledged towards unlocking land and speeding up housing infrastructure with the announcement of the 2022-2023 NSW Budget.
With the housing crisis regarded as a nationwide matter of urgency, Premier Dominic Perrottet regards housing supply, ownership and affordability as some of the State’s biggest challenges.
Titled the 2022 Housing Package, $300 million will co-fund and accelerate the delivery of ‘shovel-ready’ infrastructure projects that will enable new homes, $89 million to unlock more homes sooner with faster assessments, $69.8 million to accelerate the rezoning of key housing precincts, $33.8 million to address housing supply in Regional NSW and create a 10-year regional housing supply pipeline, and $3.8 million for ‘call-in’ team for accelerated council led rezonings.
“This is about getting keys in doors with this commitment, supercharging housing supply to help people across the State get one step closer to home ownership,” Perrottet says.
“Being able to buy a home has a huge impact on where people choose to live, work and raise a family and this investment will help give people more choice and deliver a brighter future for NSW families.
“We know one of the biggest constraints on housing supply is a lack of supporting infrastructure like water, roads, sewers and parks. So we are rolling out a $300 million investment to help councils deliver the projects that help grow our communities.”
Treasurer Matt Kean says strengthening the planning system will enable more homes to be built on existing and new land at a required pace.
“Prioritising planning assessments for new homes will make it faster for high quality planning proposals to be approved,” he says.
“We are anticipating hundreds of thousands of homes will be delivered sooner, through faster state and local rezonings and approvals.”
Minister for Planning and Minister for Homes Anthony Roberts says the Government is enabling the private sector to deliver more supply for the people of NSW.
“One of the key recommendations from the Regional Housing Taskforce was the lack of infrastructure being built in our regional communities. This investment will help regional NSW keep up with current and future demand,” he says.
“It’s important that industry receives the certainty they need to deliver housing supply for our growing population both in Sydney and in our regions.”
This new investment is part of a suite of end-to-end housing measures aimed at making home ownership a reality for more people in NSW.
The NSW Government’s policies on housing supply can be viewed here.