Property Council warmly welcomes strategic investment into housing supply - delivery and implementation must now be focus

The Property Council of Australia has warmly welcomed the NSW Government’s investment into housing supply initiatives, but emphasised program delivery is now the key.

NSW Executive Director Luke Achterstraat said the $500m committed in the State Budget would deliver more jobs and homes for the residents of NSW at a time when housing affordability concerns remained at high levels.

“Improving the planning system and delivering more housing supply are the biggest levers the state government has to address affordability,” Mr Achterstraat said.

“We are some 100,000 homes short of where we need to be in NSW so it is timely to support the private sector in getting on with the job of building quality homes and beautiful communities for the people of NSW.

“In particular, strategic investments that support faster planning assessments and accelerate the rezoning of housing precincts will help remove bottlenecks and streamline the system.

“Our planning system is complex so it is critical these announcements are matched with a focus on simplification not duplication, and a strong cultural focus on delivery.”

Mr Achterstraat also welcomed the recognition and funding for infrastructure.

“There is an enormous difference between land that is simply rezoned and land that is ‘development ready’ – the missing ingredient is enabling infrastructure such as water, parks and transport,” he said.

“The $300m earmarked for enabling infrastructure needs to be delivered strategically and efficiently.”

Mr Achterstraat emphasised that the success of the package would depend on the quality of its delivery and speed of its implementation.

“Too many times we have seen governments squib the opportunity to make lasting change to our planning system. But if we get the implementation right, we can generate a new productivity super-cycle that will improve the living standards of future generations.”

Mr Achterstraat also welcomed the strong focus on regional housing including $33.8 million over four years to address housing supply and progressing the work of the Regional Housing Taskforce.

Media: Aidan Green | [email protected]