The NSW government has announced an ambitious housing plan for Sydney, with up to 171,700 new homes to be built across the region.
NSW premier Barry O’Farrell unveiled the location of 31 new and existing suburbs where 111,700 homes will be built, with another 13 sites to be announced for a further 60,000 homes.
The plan, which was unveiled in March, is one of the largest state housing plans ever announced.
“We understand people are concerned about rising housing costs in Sydney and the delivery of these tens of thousands of new homes will assist in improving housing affordability,” Mr O’Farrell said.
“Employment areas are also being created alongside this new housing to allow people to get jobs closer to where they live…
“A new approach was needed to deliver the housing Sydney needs – and that’s why we cut red tape, released more land and generally boosted confidence for builders and home buyers.”
The NSW housing plan includes:
• 27,400 new homes and 49,500 new jobs in centres around eight new railway stations along the North West Rail Link
• 30,000 new homes across eight existing urban areas to be revitalised under the NSW government’s new Urban Activation Precincts (UAP) program
• rezoning land for 30,250 new homes and 29,000 jobs across five precincts in Sydney’s growth centres near the new North West and South West Rail Links
• the release of three additional North West growth centre precincts where planning will start for a further 8200 homes
• action to progress seven outer suburban greenfield sites with the potential for 15,850 homes
• investigating 13 additional sites with the potential for 60,000 homes further down the track
Mr O’Farrell said an additional 27,400 homes in Sydney are required to keep up with population growth, with Minister for Planning and Infrastructure, Brad Hazzard, stating Sydney’s population is expected to grow by 1.3 million over the next 20 years.
“The NSW government has allocated $50 million to help councils improve local amenities like parks and other public spaces in these eight locations,” he said.
The Housing Industry Association (HIA) welcomed the announcement, stating Sydney was in desperate need for a substantial increase in new housing supply.
“New home building has been languishing in the state for the past decade and urgent action is required if we are going to address ongoing housing affordability problems and spiralling rents,” David Bare, HIA executive director NSW, said in a statement.
“NSW continues to have the largest housing shortfall in Australia. The current annual build rate of around 30,000 homes is well short of underlying demand and places NSW behind smaller states in the delivery of housing supply.”
Mr Bare said the residential building from the housing plan will also have positive effects for the rest of the economy in NSW.
“The positive flow-on effect to the NSW economy in job creation, manufactured goods sales and ancillary services from the construction of new homes is well documented and understood,” he said.