The new NSW Premier, Barry O’Farrell, has announced plans to release 10,000 housing blocks in the state over the next four years.
Master planner Landcom has been charged with commencing work on the ambitious plan to make good on what was one of the O’Farrell’s pre-election pledges.
The move has been praised by Urban Taskforce chief executive Aaron Gadiel, who pointed out that no state has suffered a greater fall in new home construction than NSW over the last eight years.
"Sydney needs between 25,000 and 50,000 new homes each year,” said Gadiel. "But the city only secured 13,400 extra homes in the last financial year, and less than 3,000 of those homes were brand new blocks in Western Sydney.”
"Boosting Landcom's activity is good start on a long journey," he added. "But getting new home construction going again in NSW will ultimately depend on private sector development.”
Gadiel went on to call for a reforms to what he called the state’s “high development levies and complex planning processes”, adding that strong urban infrastructure investment would also be vital.
"We're optimistic that the government's reform agenda and investment plans will begin to address these issues in the near future," he concluded.
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