The Property Council of Australia has welcomed the announcement of $304.3 million in federal funding to expedite the delivery of parks and open space in Transport Oriented Development (TOD) precincts and deliver public housing across New South Wales.
The funding is sourced from the federal government's Housing Support Program and allocates $228.2 million to open space projects across Bankstown, Kellyville and Bella Vista; and $76.1 million toward the delivery of more than 100 social housing dwellings across Parramatta, Blacktown, Campbelltown, Randwick and Albury.
"Today's announcement backs up the plans of the state government with federal funding for action," the Property Council of Australia's NSW Executive Director Katie Stevenson said today.
"Significant strides have been made in fast-tracking the rezoning of growth precincts to take on new homes, but delivering housing involves more than just changing the colours on a map - it requires sustained investments in public amenity and infrastructure.
"We know that as communities grow that additional pressures are placed on local parks and public spaces, which will need to change to provide a high standard of amenity to the community. The funding for Bankstown, Kellyville and Bella Vista is a welcome first step in preparing these communities for future growth."
While the funding to acquire dwellings was welcome, Ms Stevenson highlighted the need for new-builds to properly address the shortage of social housing.
"We know the need for more social housing is real, with waiting lists exceeding ten years in many parts of the state, but buying existing dwellings is only a short-term fix." Ms Stevenson said.
"We need to invest in building more stock if we're to make a significant dent in the affordability crisis and the pressures this creates on the state's social housing stock.
"We have some confidence these opportunities exist thanks to the NSW Government's record commitment to 8,400 new social homes in last year's Budget. The shortage of social housing is an incredible challenge, and the industry is committed to working with the NSW Government to partner in the delivery of new social and affordable housing across New South Wales."
