The Property Council of Australia has welcomed the continued infrastructure spend across Sydney's South West and the Macarthur, as the region prepares for future growth.
"The key win for local housing in this budget is the expansion of the Accelerated Infrastructure Fund to councils in Sydney's south west. New homebuyers have footed the bill for costly local infrastructure and this drives up costs and hurts affordability," the Property Council's Western Sydney Regional Director Ross Grove said today.
"Having successfully trialled the Accelerated Infrastructure Fund in Sydney's northwest, councils in will now benefit from its extension to support growth in Camden, Wollondilly, Campbelltown and Liverpool.
"The Property Council has strongly advocated on behalf of the industry for the establishment and now the continuation of the Accelerated Infrastructure Fund into the coming year. Bringing forward new council infrastructure with state funding keeps downward pressure on the costs associated with unlocking growth.
"In order to deliver the housing the state needs, the infrastructure build will be critical. Liveable communities need appropriate infrastructure. On that back of this expansion, a ramped up commitment to housing supply is urgently needed.
"Going forward, more needs to be done to address the emerging shortage of new housing across the state. The NSW Government's Intergenerational Report projects the state will need to deliver an additional 42,000 homes every year for the next 40 years to cater to needs of the population.
"It is pleasing to see the Minister for Planning announce the release of land for 18,000 future homes in this part of Sydney, however many of these lots require connecting services to be realised. Unlocking housing supply is essential to protect the city from an emerging affordability crisis in both the short and medium term."
Key regional highlights of the Budget include:
- Expansion of the $139.4m Accelerated Infrastructure Fund 2 to include the LGAs of Wollondilly, Liverpool, Campbelltown and Camden (in addition to Blacktown and The Hills)
- Funding for new schools at Gregory Hills, Edmondson Park, South West Sydney and Wilton Junction
- $201.4m for the Western Sydney Growth Roads Program
- $162m toward the Campbelltown Hospital Redevelopment
- $111.3m toward capital works at Liverpool Hospital
