NSW Housing Boost: What It Means for Homebuyers, Renters, and Investors
Q: What is the Australian government doing to increase housing in NSW?
A: The government is investing $182 million to support 25,000 new homes across NSW. This funding will go towards critical infrastructure projects like roads, sewage systems, and water facilities to make more housing possible.
Q: What specific projects are being funded?
A: Some key projects include:
- $13 million for a new road, intersection, and bridge in Schofields (235 homes).
- $45 million for water and sewer infrastructure in Kempsey (430 homes).
- $27.2 million to upgrade Marulan’s wastewater treatment plant (400+ homes).
- $10 million for stormwater and road improvements in Griffith (500 homes).
- $45 million for a wastewater treatment plant in Stuarts Point (40 homes).
- $4 million for a new roundabout and infrastructure upgrades in Moruya (45 homes).
- $22.1 million for road and utility upgrades in Cessnock (900 homes).
- $6.2 million for a new pedestrian tunnel in Sydney’s Inner West (7,800 homes).
Q: How will Parramatta benefit from this funding?
A: The government is investing $101.1 million into Parramatta’s Civic Link project, which will create 14,700 new homes. It will also include green spaces and better connections to public transport like rail, light rail, and the upcoming Sydney Metro West.
Q: What is the long-term housing plan for Australia?
A: The federal government has committed $32 billion to the Homes for Australia plan, which aims to build 1.2 million new homes over the next five years.
Q: What does this mean for property investors?
A: Some areas outside Sydney, known as “second-wind markets”, may offer good investment opportunities. These include:
- Newcastle
- Central Coast (NSW)
- Albury-Wodonga
- Bendigo
- Mildura
These areas currently have more available properties, giving buyers better negotiating power before the next growth cycle.
Q: Will building more homes solve the housing crisis?
A: Not completely. Experts say that just building more homes isn’t enough. Other changes are needed, such as:
- Encouraging population growth outside major cities
- Making planning and development approvals faster
- Fairer tax policies to help homebuyers and sellers
- More support for rental and alternative housing models
- Creating a more investor-friendly environment to support rental market stability
Q: What’s next for the Australian housing market?
A: Housing demand is expected to stay high, especially in areas with low supply. Without major policy changes, home prices and rental competition are likely to remain strong throughout 2025