NSW gets 170k dwellings injection

THE O'Farrell government is resuscitating Sydney's housing market by unveiled plans to release more than 170,000 new homes.

The plan is the state’s biggest ever housing supply programs, according to NSW premier Barry O’Farrell and minister for planning and infrastructure Brad Hazzard.

O’Farrell said the government has earmarked 31 new and existing suburbs which will provide 111,700 homes and is investigating a further 13 sites with the potential for an extra 60,000 dwellings.

“When our government came to office, housing delivery was near record lows – in 2009, just 13,752 new homes were built in Sydney. A new approach was needed to deliver the housing Sydney needs – and that’s why we cut red tape, released more land and generally boosted confidence for builders and homebuyers.

“The steps we’ve taken have helped lift housing completions in Sydney in 2012 to 18,186 – the highest level since 2006. But that isn’t enough – we need around 27,400 additional homes in Sydney each year to keep up with population growth and to keep home prices affordable.

“That’s why today, we’re unveiling one of the biggest housing delivery programs this State – or any other – has ever seen,” he added.

“We understand people are concerned about rising housing costs in Sydney and the delivery of these tens-of-thousands of new homes will assist in improving housing affordability.

“Before the election, I said I wanted to ensure owning a home wasn’t a fading dream for young families. The massive super package will go a long way to delivering on that commitment,” he continued.

O’Farrell said the government is also ensuring these new houses are supported by a $61.8 billion infrastructure program – including the North West and South West Rail Links, the light rail extension to Randwick and upgrades to roads including the M5 West widening, WestConnex, Camden Valley Way, Richmond Rd and Schofields Rd.

“We will not repeat the mistakes of Labor – who allowed houses to be built in Sydney long before the necessary infrastructure was in place to support them. Employment areas are also being created alongside this new housing to allow people to get jobs closer to where they live,” the premier said.

The program includes:

· 27,400 new homes and 49,500 new jobs in centres around the eight new railway stations along the North West Rail Link

· 30,000 new homes across eight existing urban areas to be revitalised under the NSW Government’s new Urban Activation Precincts (UAP) program;

· Rezoning land for 30,250 new homes and 29,000 jobs across five precincts in Sydney’s Growth Centres near the new North West and South West Rail Links;

· The release of three additional North West Growth Centre precincts where planning will start for a further 8,200 homes;

· Immediate action to progress seven outer suburban greenfield sites with potential for 15,850 homes in response to the government’s Potential Home Sites Program; and,

· Investigation of 13 additional sites with potential for 60,000 homes further down the track.

Hazzard said Sydney’s population is expected to grow by 1.3 million over the next 20 years and the NSW government is planning for that growth.

“We are also making more home sites available in the North West and South West Growth Centres – including at Box Hill where 9,600 homes will be built and 16,000 jobs created when the land is rezoned,” he added.

The government will rezone five precincts in the North West and South West Growth Centres to provide land for 30,250 homes and 29,000 jobs:

· Austral and Leppington North (17,350 homes and 13,000 jobs)

· Box Hill and Box Hill Industrial (9,600 homes and 16,000 jobs)

· East Leppington (3,300 homes)

Planning will start soon on three additional Growth Centre precincts at Riverstone East, Vineyard and West Schofields for another 8,200 homes.

In addition the Urban Activation Precincts program has selected eight sites:

· Epping Town Centre (Hornsby Shire Council and Parramatta City Council)

· North Ryde Station (City of Ryde)

· Herring Road, Macquarie Park (City of Ryde)

· Randwick (Randwick City Council)

· Anzac Parade from Maroubra to Phillip Bay (Randwick City Council)

· Carter Street, Homebush (Auburn City Council)

· Wentworth Point (Auburn City Council)

· Mascot Station (Botany Bay Council)

Hazzard said the government is also in discussions with landowners of 13 sites, over 100 ha in size, which will deliver another 60,000 dwellings.

The seven sites for immediate action are:

· Blairmount and Eagle Vale Drive, Emerald Hills, Raby Road in Catherine Fields and Lowes Creek, Bringelly in Sydney’s south-west

· North Richmond in Sydney’s north-west

· Heathcote Ridge in Sydney’s south, and

· East Wadalba on the Central Coast.

Property Review