The NSW government has already announced plans last month to build more than 200,000 homes and focus on higher density living by building up, not out. But now NSW Premier Chris Minns says the state will not meet its housing target, but is doing its best to boost supply.
The plan includes 138,000 new homes at rezoned sites in 31 suburbs, and 47,800 homes near eight major transport hubs, with the latter to be completed over the next 15 years.
Those suburbs include Bankstown, Bays West, Bella Vista, Crows Nest, Homebush, Hornsby, Kellyville and Macquarie Park.
The government will offer developers in those zones a fast-tracked approvals process, called a state significant development, to ensure apartments are built quickly.
It will be offered to developments over $60 million, and construction must start within two years of approval.
The government also intends to relocate Rosehill Racecourse and replace it with 25,000 homes as part of the plan.
But Housing industry insiders say they are not surprised by the NSW premier’s admission that the state will not meet its housing targets agreed to just last year.
The target, which was set out by the federal government in August, would see an average of 75,000 new dwellings a year over the next five years. It is part of a broader plan to build 1.2 million homes across Australia during that period.
Premier Chris Minns said the government would fall short of the goal but was working on building as many houses and units as possible to alleviate housing shortages and skyrocketing costs.
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