- Population of NSW set to soar to 10.6M by 2061
- UDIA has released a new report NSW Greenfield Land Supply Pipeline Survey
- Report suggests NSW will fail to deliver enough housing to accommodate demand
The Urban Development Institute of Australia (UDIA) has welcomed moves by the NSW government to facilitate greater residential development but has suggested the latest announcement by Planning Minister Rob Stokes only represents the “tip of the iceberg” to match the demand predicted.
The UDIA’s announcement comes as earlier this month the Property Council of New South Wales (PCA) called upon the NSW Government to “keep their foot on the pedal” to accommodate the 10.6 million people expected to live in New South Wales by 2061.
“While we welcome the Minister’s announcement today to fast track developments in Sydney’s South West as a good first step, the land supply pipeline needs much greater depth to respond to demand … with the goal of better housing affordability,” said Steve Mann, CEO of UDIA NSW.
Yesterday, the UDIA released their NSW Greenfield Land Supply Pipeline Survey which identifies the schedule for future housing supply delivery and quantifies the barriers. To meet demand, NSW needs to build around 42,000 new homes a year, 90% of them in Greater Sydney and around 14,000 needing to be greenfield homes.
To put this into perspective, at the peak of housing construction back in 2016, only 13,180 new greenfield homes were delivered.
The survey highlights that, without action, there will be an undersupply of 25,600 greenfield housing lots in Greater Sydney in relation to demand by 2030.
“In summary, we have a housing supply crisis, that needs an immediate step-change in planning and infrastructure delivery,” said Mr Mann.
“Record demand for new homes post COVID has exhausted the greenfield supply and our research shows that a ‘business as usual’ approach is not going to deliver what is required to refill the pipeline. What is needed is a step change in planning decisions and enabling infrastructure to unlock supply.”
“UDIA stands ready with the evidence to advocate across government to see housing supply and affordability back as a key priority for the NSW government, with decisions made to unlock the supply pipeline.”
