The NSW Government is injecting significant funding and fast-tracking key projects to address the growing housing supply challenges in regional areas. This multi-pronged approach aims to unlock tens of thousands of new homes, bolster essential infrastructure, and ensure more affordable housing options for communities across the state.
KEY TAKEAWAYS
- The NSW Government is investing $23.9 million through two programs to boost regional housing.
- The Regional Housing Strategic Planning Fund and Low Cost Loans Initiative are supporting councils with planning and infrastructure.
- Significant progress is being made in delivering new public and affordable housing across NSW.
BOOSTING REGIONAL HOUSING SUPPLY
The Minns Labor Government has announced a substantial $23.9 million investment aimed at accelerating housing delivery in regional NSW. This funding is channelled through two key programs: the Low Cost Loans Initiative, offering up to $20.9 million to help councils fund critical infrastructure like roads and parks by covering 50% of interest costs on loans, and the Regional Housing Strategic Planning Fund, providing up to $3 million in grants for local planning projects that enhance housing supply and affordability. These grants, ranging from $20,000 to $250,000, support essential planning work such as housing strategies, masterplans, and development control plans.
This initiative is part of a broader strategy to meet new housing targets, including a goal of 55,000 homes in regional NSW by 2029. The funding ensures that new homes are supported by necessary enabling infrastructure, including water, sewer, and road networks.
UNLOCKING HOUSING THROUGH STRATEGIC PLANNING
Across NSW, 20 regional councils are set to benefit from the latest round of the Regional Housing Strategic Planning Fund, sharing $3.8 million to unlock an estimated 68,000 new homes. This funding supports critical planning work, including infrastructure servicing plans and development control plans, enabling sustainable growth that aligns with infrastructure needs. Since its inception, the fund has supported 80 strategic planning projects worth $20.3 million, advancing an estimated 62,000 dwellings.
Specific examples of council support include Richmond Valley Council receiving $250,000 for an Infrastructure Servicing Plan. This investment is designed to equip councils with the tools needed to deliver more diverse, well-located, and affordable homes.
PRECINCT DEVELOPMENT AND PUBLIC HOUSING MILESTONES
In addition to broader funding initiatives, specific regional centres are seeing targeted development. In Kiama, the Shoalhaven Street Precinct is undergoing rezoning to provide housing, with a proposal for a minimum of 10% affordable housing. Similarly, Nowra is set to benefit from the Nowra City Centre Strategic Roadmap and Riverfront rezoning proposals, which aim to enable nearly 1,000 new homes, including affordable and social housing, alongside activated riverfront spaces for cafes and restaurants.
On a state-wide level, the NSW Government is achieving significant milestones in public housing delivery. The $6.6 billion Building Homes for NSW program has already delivered 1,711 new social and affordable homes in the 2024-25 financial year, with thousands more planned. This marks a turnaround after a decade of decline in public housing stock, with the government committed to building new homes at scale and restoring public housing’s role in the system. Projects like the redevelopment on Cowper Street, Glebe, replacing 19 older dwellings with 75 new public homes, exemplify this commitment.
SOURCES
- NSW government spruiks $3.8m for unlocking regional housing supply – The Echo, Echonetdaily.
- $23.9 million boost to fast-track housing in regional NSW, NSW Government.
- Council welcomes NSW Government Shoalhaven Precinct engagement Kiama Council, Kiama Council.
- Council welcomes planning proposals for growth in Nowra, Shoalhaven City Council.
- Another milestone reached as thousands more move into new public housing, NSW Government.