New homeowners, regional residents and communities in New South Wales will benefit from a new $ 2.8 billion housing package as part of the NSW 2022-2023 budget.
Prime Minister Dominique Perotte said the 2022 housing package aims to pull all available government levers to improve housing supply, rapid critical infrastructure and offer financial relief to first-time homebuyers over the next four years.
“Everyone should have the right to housing, regardless of where you live or what income you earn. This is the biggest investment in tackling home ownership in decades, and it’s about using different areas of governance to help people own a home, “said Mr Perrottet.
“These initiatives in isolation will not be enough to solve the problem. That is why this government is pulling all the levers we can to help more people get the keys to the doors.
Treasurer Matt Keane said the financial elements of the housing package would support many in the community, focusing on first-time home buyers and those in need.
“This package aims to support those members of our community who need a helping hand, including vulnerable elderly women and single mothers, first home buyers and key workers who often struggle to find housing,” he said. Mr. Keane.
“For every million dollars invested in the construction sector, $ 2.5 million is returned to the economy. It is the NSW government that is working quickly and innovatively to keep the economy moving. “
Planning and Housing Minister Anthony Roberts said the package invests in housing solutions that allow the construction sector to deliver new supplies and make it easier for people across the state to have a safe place to call home.
“The supply and accessibility of housing is complex and there is no single solution. But the NSW government is charging infrastructure and supplies, helping homebuyers get a start and invest in social, affordable and aboriginal housing, ”said Roberts.
“We continue to deliver new and improved social housing for people in need, with New South Wales leading the way in providing the largest renovation of social housing in the country, with an investment of $ 9.1 billion leading to an increase in the social security fund. housing in New South Wales by 10% in the last 10 years.
“This package is not only about supporting the first home buyers, but also about setting the right framework for increasing the supply of housing and providing more social and affordable housing.
The $ 2.8 billion NSW government housing package for 2022 will provide:
- $ 780.4 million to help single parents, older singles and key workers buy a home through a shared participation scheme. The two-year pilot program will offer 3,000 seats a year
- $ 728.6 million over four years to introduce an option for first home buyers who buy a home for up to $ 1.5 million to pay an annual property tax instead of an advance stamp duty
- $ 300 million to co-finance and accelerate the delivery of ready-made infrastructure projects that will allow the construction of new homes in Sydney and key regional areas
- $ 300 million to upgrade more than 15,800 social homes to improve quality and extend property life and ensure they are suitable for aging and less mobile residents
- $ 174 million to deliver 271 new and renovated homes to key workers, such as teachers and police, in regional and remote communities. That’s in addition to the $ 75 million previously announced for health care workers’ homes
- $ 149.8 million to deliver 200 new and 260 modernized homes for first-nation families and install 4,440 climate and energy-saving improvements, helping to reduce overcrowding and improve the quality of life of tenants
- $ 89 million to unlock more homes across the country through faster planning estimates
- $ 73.5 million to accelerate the redevelopment of key residential areas in Sydney and regional areas to make more land ready for new homes
- $ 67.2 million to continue and expand the Strong Family, Strong Communities program
- $ 37 million to provide the Together Home Transition program, which provides 120 new social homes for rough sleepers
- $ 33.8 million to tackle the supply of housing in regional areas and create a 10-year regional housing supply pipeline that will make the supply of housing and infrastructure more secure
- $ 32 million for Roads to Home to provide planning and infrastructure improvements to first nation communities and support access to basic services