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Almost $900 million investment takes total social housing budget to $4.4 billion

Last published on 17 Nov 2020 in News

Almost $900 million will be invested as part the 2020-21 NSW Budget to build and accelerate thousands of new homes and create up to 3,000 jobs for the people of NSW, as part of the Government’s stimulus and COVID recovery plan.

This Budget includes $812 million for new and upgraded housing across the State and $80 million to support new housing sector pre-apprenticeships, apprenticeships and cadetships, and help deliver 100 new social homes.

This new funding takes the total NSW Government investment in social and affordable housing to $4.4 billion over four years.

This includes $400 million for a new Fast-Track Housing Construction Package to boost the State’s economic recovery from COVID-19.

The Fast-Track Package will deliver almost 1,300 new social homes across the State, supporting an estimated 800 direct and 1,200 indirect jobs during construction. In addition, the program will create 1,000 land lots to be provided for sale to build new private homes.

Treasurer Dominic Perrottet said this was the largest State Government investment in new social and community housing for more than twenty years.

“We’re investing $812 million not only to create a new building boom in social housing but also to upgrade existing homes, which will create thousands of small jobs and projects for local tradies and importantly, improve the comfort of properties for tenants,” Mr Perrottet said.

The package includes:

  • $250 million for a housing construction program over the next two years on more than 50 identified projects, delivering about 580 new social homes across metropolitan and regional areas;
  • $150 million to accelerate the place-based redevelopment projects at the Airds-Bradbury and Claymore housing estates, delivering more than 500 new social homes and 1,000 new land lots for sale to build private homes;
  • $200 million to upgrade more than 3,500 social housing dwellings, including properties managed by Community Housing Providers, to improve the quality, comfort and safety of housing for tenants and deliver more jobs for local tradespeople of NSW;
  • More than $145 million to supply more than 200 new homes as Aboriginal housing, upgrades and maintenance works, including roof restorations and replacements, recladding, solar power installations, drought relief hydro panels, and air conditioning;
  • Almost $67 million to support the Aboriginal Community Housing (ACHP) sector to undertake maintenance, roof restoration/replacements, airconditioning and solar power installation and construct granny flats and extensions to improve living conditions for Aboriginal people; and
  • $80 million to support 300 new housing sector pre-apprenticeships, apprenticeships and cadetships, and deliver 100 new social homes, providing career pathways for young people and social housing tenants.

Minister for Water, Property and Housing, Melinda Pavey said the Budget will help get more people into work while delivering much needed social housing to give hand to those who need it most.

“We’re not just building hundreds of new homes to support disadvantaged and vulnerable people, we’re also creating critically important jobs to support the economic recovery of the state through the construction industry,” Mrs Pavey said.

“This investment will accelerate affordable housing supply, while boosting vital trade and valuable flow-on market activity.”