- The New South Wales Government announced an additional $183 million dedicated to fast-track more than 1,400 new homes as part of the state’s economic recovery strategy
- The addition will build on the $812 million COVID-19 social housing stimulus package announced in the 2020-21 Budget
- The Property Council of Australia has welcomed the state’s announcement
The New South Wales government announced an additional $183 million dedicated to fast-track more than 1,400 new homes as part of the state’s economic recovery strategy.
Treasurer Matt Kean said the investment will provide vital new homes for the most vulnerable, create 1,100 direct and indirect jobs in the construction phase, and support an extra 990 households through rent assistance.
The addition will build on the $812 million COVID-19 social housing stimulus package announced in the 2020-21 Budget, which is expected to deliver over 800 new social homes and upgrades to around 16,500 existing properties.
“This package will support the people of NSW through jobs for the construction industry, whilst continuing to tackle hard issues like homelessness, housing affordability and providing opportunities for home ownership.”
Melinda Pavey, Minister for Water, Property and Housing
Minister for Families, Communities, and Disability Services Alister Henskens said, with the state government partnering with community housing providers, the supply of social and affordable housing can significantly increase.
“The Community Housing Innovation Fund (CHIF) is unlocking exciting and innovative development opportunities which aim to address homelessness and support people who need it most.
“Part of this package includes additional investment in rent assistance programs which will bolster support to help vulnerable people secure or maintain housing in the private rental market.”
Accelerate delivery of homes ($50 million)
Under the new investment, $50 million will go to the state government’s Land and Housing Corporation (LAHC) to fast-track the delivery of around 2,800 new homes, including about 1,000 social housing properties across NSW.
The funding will help to complete several transformational LAHC projects being planned.
Minister Pavey said, “Projects in Western Sydney, Coffs Harbour, and Wagga Wagga will be accelerated, by forward funding homes for tenants to relocate into, and local businesses will be used for these local projects.”
The money will also support the ongoing work of realising new mixed tenure sites and deliver on existing major projects helping LAHC deliver the right types of housing for the right time and areas.
Vulnerable groups ($30 million)
The LAHC will also deliver a $30 million program to fund about 80 new small-scale, shovel-ready homes in Western Sydney and regional towns over the next 18 months, including homes that support the NSW Homelessness Strategy.
The areas which will see new social housing developments include Seven Hills, South Granville, Revesby, Heckenberg, Mudgee, Bega, Young, and Unanderra.
Other regional projects will see LAHC partner with project home builders and the community housing sectors to deliver homes sooner.
Community housing sector ($60 million)
Managed by the Department of Communities and Justice, $50 million will also go to the CHIF for the delivery of 290 new homes in partnership with community housing providers.
$10 million will also be put toward Rent Choice, a private rental subsidy, funding to support the additional 990 households.
Support for Aboriginal communities ($43 million)
The Aboriginal Housing Office (AHO) will allocate $20 million to construct approximately 45 new culturally appropriate homes for families across the state.
The construction of these dwellings will support up to 90 new jobs and help Aboriginal communities recover from the pandemic.
$20 million will also be invested into the Aboriginal Community Housing Investment Fund over the next two years.
The funding will see new social and affordable housing to help address homelessness, waitlists because of the pandemic, and the overcrowding of many Aboriginal social housing dwellings.
Another $3.3 million will enable programs by AHO to service up to 130 additional Aboriginal families.
Leading property advocate welcomes investment
The Property Council of Australia has welcomed the state’s announcement of the additional $183 million funding.
NSW Property Council’s executive director Luke Achterstraat said the Council would continue to push for as much investment into additional social housing and diversifying supply to help reduce homelessness.
“This investment will help a number of social housing projects and will speed up the government’s attempt to supply the right homes, in the right areas for Australians who need it most.
“Homelessness has a substantial impact on those that experience it and by investing to address homelessness we can achieve the social outcomes while also supporting the economic recovery of the state.”
