HUNDREDS of millions will flow into the planning system in a bid to speed up rezonings and unlock development-ready land under a state government plan to boost housing supply in NSW.
A day after announcing a shared equity scheme to match the Labor federal government's program, the Perrottet government on Monday confirmed its push to accelerate housing infrastructure.
The measure, to be included in Tuesday's state budget, includes $300 million for councils to help roll out "the projects that help grow our communities".
This is about getting keys in doors with this commitment supercharging housing supply to help people across the state get one step closer to home ownership, Mr Perrottet said.
We know one of the biggest constraints on housing supply is a lack of supporting infrastructure like water, roads, sewers and parks.
Treasurer Matt Kean said bolstering the planning system would let more homes emerge on existing and new land at the pace required.
Prioritising planning assessments for new homes will make it faster for high quality planning proposals to be approved, Mr Kean said.
We are anticipating hundreds of thousands of homes will be delivered sooner, through faster state and local rezonings and approvals.
The housing package breaks down to include
- $300 million to speed up shovel-ready infrastructure that will enable new homes in Sydney and key regional areas
- $89 million for faster planning assessments
- $69.8 million to accelerate rezonings to make more land for new homes ready for development
- $33.8 million for regional NSW housing supply through "a 10-year regional housing supply pipeline"
- $3.8 million for a "call-in team" to accelerate council-led rezonings
Property Council of Australia NSW executive director Luke Achterstraat said the spend would add jobs and homes in the state, addressing high levels of housing unaffordability.
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.
