The Sydney Business Chamber says the Covid crisis has accentuated the city’s need for a greater diversity of housing to help drive affordability and economic recovery through an uplift in housing construction.
“The NSW Government’s recent Housing Diversity SEPP is a good first step in streamlining the planning process and addressing the shortage of more affordable housing models with property prices preventing so many in our community from being able to live close to work,” said Katherine O’Regan, Executive Director of the Sydney Business Chamber.
“Construction of a more diverse range of new housing through a pathway for investment in models including Build-to-Rent developments, student housing and co-living, is particularly important as we emerge from the Covid crisis.”
“The housing construction industry has been in decline, so streamlining and simplifying the current planning restrictions, through collaboration between State and local government, will generate economic and employment growth, assisting the city’s economic recovery.”
“The construction of Build-to-Rent developments in particular, will create jobs and boost economic growth at this time of high unemployment, while also providing much-needed accommodation for many in our community currently priced out of ownership and rental markets close to their work.”
“Key workers, including first responders, nurses and other medical staff should have options to live closer to the CBD and town centres where hospitals and other government institutions are. This will reduce congestion on roads and public transport as well as improving productivity and quality of life for this important group of citizens.”
“We call for submissions to the NSW Government’s recent Housing Diversity SEPP to be adopted and implemented to allow new housing formats to attract much needed investment from superannuation funds and institutional investors, addressing Sydney’s shortage of affordable, social, student and elderly accommodation.”
*See the Sydney Business Chamber’s submission to the proposed new Housing Diversity SEPP here.