Housing supply monitor supports delivery of homes

The NSW Government has released its first Housing Supply Quarterly Insights Monitor, which pulls together data and evidence-based insights into a single and transparent source of truth.

Department of Planning and Environment’s Executive Director of Housing Supply and Infrastructure Monica Gibson said the monitor outlines how many homes are needed to cater for a growing population, and how the state’s housing supply pipeline is tracking.

“We are working closely with all our stakeholders to ensure the pipeline of new housing our growing state needs can be delivered long-term,” Ms Gibson said.

“You can’t plan for the future without knowing where you are at present and this monitor paints a picture of the housing situation in NSW.

“It is a one-stop shop for stakeholders, providing insights into how we are supporting the housing pipeline in the context of larger scale factors, such as broader monetary, tax and immigration policies; labour supply; global economic conditions; supply chains; and natural disasters.”

Key findings from Housing Supply Quarterly Insights Monitor (Q1 2022):

• In the first quarter of the 2022-23 financial year, the NSW Housing Package was announced. To end of September, more than 2,500 rezoning lots and around 30,000 dwellings were approved under State Significant Development, Regionally Significant Development or local development applications;
• This quarter builds on the strong delivery since January 2022 that has seen a combined 28,696 potential dwellings unlocked through rezonings;
• NSW continues to have the highest number of dwellings under construction in Australia (77,571 in June 2022); and
• We committed funding to support 25 infrastructure projects through the Regional Housing Fund that have the potential to support close to 24,000 new homes in regional NSW.

Ms Gibson said a reliable pipeline of housing supply will position NSW to contribute towards the proposed National Housing Accord target to deliver one million new homes over 5 years from mid-2024, recently announced in the Federal Budget.

“This builds on the NSW Government’s strong commitment to unlock housing supply as part of a $2.8 billion Housing Package, released as part of the State Budget,” she said.

“Housing supply and affordability is complex and there is no single solution, but we are supercharging infrastructure and supply, helping home buyers get a head start and investing in social, affordable and Aboriginal housing.”

To view the Housing Supply Quarterly Insights Monitor, visit Housing Supply Insights.