Affordable rentals set to increase in Sydney
More affordable rental housing will become available across the City of Sydney over the coming years due to changes in planning rules.
Lower-income households will be opening doors to more affordable rental housing in Sydney with new changes to planning rules coming into effect from 1 July 2021.
NSW Government will extend the City of Sydney’s affordable rental housing scheme, which requires new developments to make a financial or floor space contribution towards new rental housing.
The changes from July 2021 will mean more affordable rental properties will be available in the city as new apartments and housing are built.
The City of Sydney aims to add over 10,000 affordable rental properties in the next 15 years, with 600 currently in the pipeline.
Planning Minister Rob Stokes says the scheme is consistent with objectives in the Greater Sydney Region Plan to put affordable rental housing targets in rezoned areas.
Affordable housing requirements for new developments will be phased over the next two years to allow projects to adjust to the scheme.
The changes from July 2021 will coincide with new planning controls under the Central Sydney Planning Strategy. The strategy is in the final stages of assessment by the Department of Planning, Industry and Environment.