Western Sydney to have 'tens of thousands' of homes, says Budget 2017

Western Sydney to have 'tens of thousands' of homes, says Budget 2017
Western Sydney to have 'tens of thousands' of homes, says Budget 2017

The federal budget has addressed housing affordability issues in the Budget with an emphasis on “building more homes”, and Western Sydney figures prominently in it.

Treasurer Scott Morrison said there would also be “tens of thousands” of new homes delivered in western Sydney as part of the “Western Sydney City Deal”.

The population of Western Sydney is expected to reach 1.4 million people by 2036, so an additional 180,000 new homes and jobs creation is required to support this population growth. 

The Western Sydney City Deal between the federal and state governments, according to the Urban Developer, pledges to;

  • target additional infrastructure investment to increase public transport and reduce traffic congestion, so people can spend more time with their families
  • deliver more jobs closer to homes and services, with a focus on youth and indigenous training and skills development.
  • increase housing through better planning and density done well, and streamlining approvals across all three levels of government

Since the election of the NSW Coalition government in 2011, there has been a renewed push for not only better infrastructure in Western Sydney, but also to decentralise Sydney by moving government offices that have traditionally resided in the CBD and migrate them to outer suburbs such as Parramatta and Liverpool.

NSW Premier Mike Baird and then Prime Minister Tony Abbott had first announced a second airport in Western Sydney’s Badgerys Creek. Baird and Prime Minister Malcolm Turnbull in October 2016 called the Western Sydney City Deal the "nation’s largest ever planning and investment partnership".

The federal government recently promised to build the Western Sydney Airport after the owners of Kingsford Smith Airport declined the offer.  It will provide up to $5.3 billion in equity to establish WSA Corporation Limited from 2017-18 to develop the airport. Works are expected to commence by late 2018 and airport operations by 2026, creating 20,000 jobs.

The push for Western Sydney housing began in 2014 when planning policy changes allowed 2,500 Western Sydney home sites to be instantly brought online.

Property Observer wrote that multi-storey residential towers are expected to be built in many parts of Sydney as numerous areas undergo a rezoning. 

Tags: 
Federal Budget Western Sydney

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