Property Council welcomes $183 million investment to help most vulnerable

The Property Council of Australia has welcomed the announcement of thousands of new jobs and social housing properties through the NSW Government’s economic recovery strategy with an additional $183 million dedicated to fast-track more than 1,400 new homes.

NSW Property Council’s Executive Director Luke Achterstraat said the Property Council would continue to push for as much investment into additional social housing and diversifying supply to help reduce homelessness.

“This investment will help a number of social housing projects and will speed up the government’s attempt to supply the right homes, in the right areas for Australians who need it most,” Mr Achterstraat said.

“Reducing homelessness will not only improve the lives of the most vulnerable but it will benefit multiple aspects of society”.

“Sydney strives to be one of the most liveable cities in the world, and to do that justice we have to ensure we are liveable for all people, and provide support to those who need it most.

“Homelessness has a substantial impact on those that experience it and by investing to address homelessness we can achieve the social outcomes while also supporting the economic recovery of the state.

“Investment in these issues includes direct expenditure in providing support to the individual, as well as the costs of the adverse outcomes of homelessness such as mental health problems, and lower employment rates and wages.”

The Property Council is committed to ensuring the people of New South Wales have their housing needs met. In particular the Property Council is focussed on housing supply, affordability, security, choice and diversity.

Together with the members of the Good Growth Alliance, the Property Council continues to advocate for investments in housing such as this package.

The package is part of the Government’s COVID-19 economic recovery strategy and includes:

  • $50 million to accelerate the delivery of around 2,800 homes, including around 1,000 social homes, to be built in Western Sydney, Wagga Wagga and Coffs Harbour through Communities Plus projects, in partnership with the private sector and CHPs;
  • $50 million for the delivery of around 290 new social houses in partnership with community housing providers (CHPs) through the Community Housing Innovation Fund (CHIF);
  • $30 million for about 80 new small scale social housing, primarily in Western Sydney and regional NSW;
  • $20 million for new and upgraded social and affordable homes in partnership with Aboriginal CHPs through the Aboriginal Community Housing Investment Fund;
  • $20 million for about 45 new homes for large Aboriginal families to support kinship living and reduce overcrowding, aligned with Closing the Gap targets so more families live in the right size homes;
  • $10 million for additional Rent Choice packages to support 990 households to secure or maintain housing in the private rental market; and
  • $3 million to support around 130 additional vulnerable Aboriginal families through the Services Our Way program.

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