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The state government has invested over $4.4 million in its Regional Housing Fund to accelerate the development of more than 105,000 homes across regional NSW.
The third round of the state government’s Strategic Planning Fund is set to deliver more than $4.4 million of funding to unlock housing supply in 24 regional NSW councils.
Councils will receive grants of up to $250,000 to update their housing strategies, plan for corresponding infrastructure, essential services and amend local environmental plans, paving the way for the construction of diverse housing.
Minister for Planning and Public Spaces Paul Scully said the fund would provide councils with the resources to deliver “better-designed, more liveable communities across regional NSW”.
“By investing in planning today, we’re helping councils deliver the homes, parks, transport, connections and infrastructure communities need, and making sure young people and families can continue to build their futures in the regions,” Scully said.
In the fund’s third round, $250,000 will be provided to the City of Newcastle to deliver 23,591 homes and support the government’s Transport Oriented Development reforms that seek to boost housing supply around train stations.
Additionally, $250,000 will be given to the Central Coast Council to fund its residential zone review program, which will leverage the state’s recently passed Low and Mid-Rise development policy to deliver an additional 2,558 new houses in the area.
The government has noted that homes are becoming increasingly expensive and harder to find in regional NSW due to increased relocation.
Recent research showed that across the nation, more Australians have been relocating to the regions than moving into the city every year since 2014.
By funding local housing, planning and infrastructure projects through the third round of funding, the NSW government noted that the housing supply delivered under the program would help to hit the new housing target to deliver 55,000 homes over five years in regional NSW.
Funding for the first two rounds of the Regional Housing Strategic Fund helped to allocate $6.88 million to 36 projects, with $230,000 being allotted to the Federation Council to fund a stormwater-servicing plan and support the delivery of 5,600 homes across the Murray region.
Other key projects that have been delivered so far include the Laffing Waters Master Plan Precinct Contributions Plan in Bathurst, the West Dapto Town Centres Master Plan in Wollongong, and the Tamworth Regional Housing Strategy, all of which will help advance the development of additional housing.
Minister for Regional NSW Tara Moriarty said the investment from the fund’s most recent round would help to unlock more homes across regional NSW by giving councils the “support they need to plan for growth”.
“This $4.4 million investment will fast-track over 105,000 homes and help ensure our growing regional communities have access to the housing infrastructure, and services they deserve,” Moriarty said.
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