Sydney's housing boom to continue with 3,200 new homes in south west
Some 3,200 new homes are to be delivered in Sydney’s south west as a bid by the New South Wales Government to boost Sydney’s housing supply.
Located in the Catherine Field precinct, the first blocks of land will go on sale this year, with homes to be available in 2015.
Some 44,628 homes were approved in New South Wales in the 12 months to October, making it the highest level since 2005, according to the ABS.
“There’s a massive housing boom occurring in NSW that is being driven by the unlocking of more land for new homes by the NSW Government,” says NSW Premier Barry O’Farrell.
“We are making homes more affordable and in the process Western Sydney is being transformed into a tradies paradise, with the creation of thousands of jobs in the construction sector,” says Farrell.
More than 60,000 first home owners received a helping hand by the NSW Government last year with an extra 2,814 grants paid out – almost an 80% increase on 2012.
“The new homes will be supported by $30 million of essential infrastructure that will be delivered or funded by the two main construction firms involved in the project,” says Minister for Planning and Infrastructure Brad Hazzard.
“This includes protecting Oran Park House through a future listing on the State Heritage Register, constructing an extension to Rickard Road, upgrading Oran Park Drive, providing land for a new primary school and building the main sewerage line.
“Catherine Field is the seventh major precinct rezoning in the Growth Centres in Western Sydney since the NSW Liberals and Nationals came to office in 2011.
“Together, those seven rezonings will see the construction of about 50,000 new houses - news every homebuyer wants to hear,” says Hazzard.
Treasuer Mike Baird says the NSW housing sector is in better shape than it has been for a decade, but there is much more work to do in order to get more first homebuyers into the housing market sooner.