NSW Budget is a welcome start to tackling the housing supply crisis says UDIA

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Media Archive / NSW Budget is a welcome start to tackling the housing supply crisis says UDIA

NSW Budget is a welcome start to tackling the housing supply crisis says UDIA

UDIA is pleased to see a Budget that seeks to address important aspects of the deep housing crisis currently gripping NSW.

The Government has risen to the challenge by committing genuine investment in improving the planning system, new resources in the Department of Planning and most critically, funding to help deliver the enabling infrastructure needed to support the urgent housing need for the people of NSW.

UDIA has frequently called for a streamlined planning system with faster planning assessments and through the Budget, the Government has confirmed its plans to overhaul and simplify the system by redirecting resources from the Greater Cities Commission and Western Parklands City Authority into the Department of Planning and Environment.

“This is a positive step, however, with a long list of projects stalled in the planning system for years, we need to ensure the enlarged Department of Planning maintains a laser-like focus on deploying these new resources where they are needed most – to fast track development assessments, and support better coordination and delivery of enabling infrastructure such as water, power, sewer and roads,” said Steve Mann, CEO, UDIA NSW.

“The Government should also be congratulated on adopting our recommendation to make upfront investment to kick start delivery of enabling infrastructure to unlock housing supply. We are pleased to see that $400m has been allocated for a Housing and Infrastructure Fund, with $100m going to the regions. This is consistent with our analysis that shows we need to outperform in all types of housing – apartments, detached houses and medium density – and across the length and breadth of NSW,” said Mr Mann.

Key investments in major roads in Western Sydney which will be critical for both housing and delivery of the Aerotropolis and the future viability of the area including industrial logistics and jobs.

It is pleasing to see that the Government’s Stamp duty concessions for first home owners will continue for the next four years.

UDIA was encouraged to see that the government is also directly investing in the delivery of housing through the $224m Essential Housing Package which will support social and affordable housing and making a $300m investment through Landcom to accelerate the construction of over 4,500 new homes by 2039.

Landcom has a strong record of supporting housing delivery and as this investment shows, we have a monumental challenge ahead to meet the NSW Housing Accord Target of 378,000 new homes in five years.

UDIA looks forward to more of the policy decisions later this year when NSW puts forward its submission to the Federal Government on how it will deliver its share of the National Housing Accord.

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Media Enquiries:
Deanna Lane 0416 295 898 or dlane@udiansw.com.au