$300 million to help unlock new homes across the state
The NSW Government has today revealed the details of a $300 million plan to fast-track the delivery of essential infrastructure and unlock tens of thousands of homes across the state.
NSW Premier Dominic Perrottet announced 41 councils experiencing high growth will be able to apply for a share of the latest round of the Accelerated Infrastructure Fund (AIF).
“The NSW Government’s successful AIF program is being extended for a third round, to help councils roll out critical infrastructure projects that support the delivery of much needed new homes,” Mr Perrottet said.
“It’s about getting keys in doors and giving people the opportunity to own their own home. To be able to unlock land and increase supply, our State needs the vital infrastructure in place to allow community growth – this includes roads, sewerage systems, stormwater drains and parks.”
Deputy Premier and Minister for Regional NSW Paul Toole said 23 of the 41 eligible councils were in the regions, demonstrating the NSW Government’s commitment to helping eliminate housing pressures right across the state.
“When you build a house, you’ve got to lay the foundations first. This funding lays the foundations to unlock more land and build thousands of homes in the communities where they’re needed the most,” Mr Toole said.
“It builds on the investment we’re making right across regional NSW to help fast-track construction of new homes and ease housing pressures as communities grow.”
Treasurer and Minister for Energy Matt Kean said AIF round three will help support both immediate and anticipated population growth.
“This is a great program that has delivered excellent results to date, so I’m thrilled to see this package being extended,” Mr Kean said.
“Since 2020, the AIF program has supported 38 local infrastructure projects across eight Sydney councils, supporting more than 100,000 new homes and creating around 3,220 jobs.”
Minister for Planning and Minister for Homes Anthony Roberts said the investment is part of a suite of end-to-end measures aimed at putting downward pressure on house prices and making home ownership a reality for more people in NSW.
“This is a great example of State and Local Government working together to accelerate projects that stimulate the economy, fast-track new properties, and create jobs,” Mr Roberts said.
“Our $2.8 billion housing package announced in this year’s State Budget will help us pave the way for hundreds of thousands of new homes over the next four years.”
Minister for Local Government Wendy Tuckerman said councils were the engine room of these growing communities, and are best placed to work with the State Government in making them sustainable and affordable.
“Councils have the grassroots community knowledge needed to ensure our future homes, facilities and parks flourish. Partnering with councils for the Accelerated Infrastructure Fund is going to achieve targeted, local outcomes as a result.”
Twenty-three regional councils will be able to apply for a share of $120 million, and $180 million is available for 18 eligible metropolitan councils in Greater Sydney, Central Coast, Newcastle and Wollongong.
To learn more about AIF visit https://www.planning.nsw.gov.au/Accelerated-Infrastructure-Fund
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