A fair go for first home buyers

The NSW Government has developed a new package of measures designed to improve housing affordability across NSW.

1. 75,000 new homes are expected to be built across Sydney in the next financial year, which is double the long-term average of 40,000, and Councils are under even more pressure to rezone more land for housing as part of the state government’s determination to increase the supply of new homes in the city.

2. Not only that, the recent budget committed a further $118 million over the next four years to deliver new infrastructure, housing and employment initiatives, review land use and infrastructure strategies for priority growth areas.

3. Another $19 million will be used to support the construction of 30,000 new homes in priority precincts, and almost $70 million will be allocated to fast-tracking the assessment of major projects, and helping merged local councils run planning systems.

4. The Planning Minister, Anthony Roberts, said the government’s “number one priority” was to get more houses built in order to make new homes more affordable. “We are working on many fronts to make owning a home a reality for more people, by streamlining and simplifying the planning system so housing approvals can be fast-tracked and are continuing to release and rezone more land.”

5. Combined with the reduction of stamp duty for first home buyers purchasing properties between $650,000 and $800,000, this is all good news.

Find out more from the original source: https://www.nsw.gov.au/improving-nsw/projects-and-initiatives/first-home-buyers/

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