NSW Election 2019: Accelerate the supply and diversity of housing to avoid housing crunch

While the housing market is flattening out the focus must continue to be on putting the right housing in the right places to avoid a future housing crunch according to the Property Council of Australia.

According to the Greater Sydney Commission’s housing targets, Sydney needs 40,000 new homes to be delivered each and every year to 2036 to achieve a target of 725,000 homes.

“Targets are important, and it is critical that the targets are reached by the right type and number of homes in the right locations in the timeliest manner possible,” Property Council NSW Executive Director Jane Fitzgerald said today.

“We have seen the policy focus shift from housing in recent times which is worrying for those who want to see more affordable, quality housing built in NSW – a dip in the market does not mean we should also see a dip in policy.

“Last time we lost our focus on housing, we ended up with a shortfall of over 100,000 homes and an affordability problem – we have not recovered from this position with buying a home still out of reach for too many in the community.

“We need to see a renewed focus from our State Government as there is strong social, environmental and economic evidence for putting the right housing in the right places.

“To deliver much needed homes our approach must be twofold, we need to ensure there is serviced land available for greenfield development around the existing Sydney fringe while also urbanising existing communities by building more medium density, high amenity housing around new and existing transport nodes.

“Delivering more homes also means ensuring policy settings support a strong retirement living sector to encourage right sizing for our over 65s and backing the establishment of a build-to-rent sector in New South Wales to give renters a better, more secure housing option.

“We have seen over 10 major changes to housing and planning policy in the past 12 months with most coming from previously announced policy being repealed or delayed – this is not how we should be creating an environment for investment or good outcomes.”

You can download the Property Council’s 2019 NSW State Election Platform, Six Steps to a More Liveable, Affordable and Prosperous NSW here .

Accelerate the supply and diversity of housing:
• Publish clear annual targets to meet the Greater Sydney Commissions target of 725,000 homes required by 2036.
• Reactivate the “Missing Middle” Housing Code in 2019 to ensure suburbs grow according to their existing character and amenity and the diversity of housing across NSW is improved.
• Review and redraft SEPP 65 to make it plain that the guidelines are not an enforceable standard and so they support greater diversity of supply including build-to-rent and micro housing and support greater individual choice.
• Commit to finalising the Greater Sydney Commission’s five to 10 per cent affordable housing levy subject to feasibility and roll it out consistently across the State and rule out LGA based inclusionary zoning.
• Support the establishment of build-to-rent as an asset class in NSW through tax accelerators and planning reforms to provide more housing options for those unable or unwilling to buy a home.
• Reinstate the Metropolitan Development Program to provide transparency about land supply and ensure there is a pipeline of development ready land to meet housing targets.
• Conduct and publish an audit of under utilised government land that could be used to boost the supply of affordable housing.
• Work with the industry to ensure reforms to the retirement living sector encourage confidence and increase the supply of appropriate housing for our ageing community.

The Property Council’s election platform consists of six steps and over 30 recommendations which outlines a strategy that will ensure NSW is on the right track to create liveable communities, affordable homes and continue to deliver economic growth and jobs.

The six steps are:
• Create tomorrow’s Sydney by delivering on our State’s Plans for good growth and high amenity;
• Fix the NSW planning system to complement the strategic vision that has already been delivered;
• Accelerate the supply and diversity of housing to help improve affordability and lower the cost of living;
• Step up evidence-based infrastructure investment to reduce congestion and support growing communities;
• Reduce fees, taxes and charges to boost investment and economic growth and create more jobs; and
• Support our regions to grow their unique characteristics, attract jobs and increase investment.

Media Contact: William Power – 0429 210 982