The figures highlight the success of recent land release and rezoning initiatives, as the NSW Government seek to increase housing supply and affordability in Western Sydney.
Approximately 6,600 new land lots have now been released and rezoned to keep pace with strong demand for new housing in Western Sydney.
New sites being rezoned or released include:
- Marsden Park North: Release of land for up to 4,000 homes close to the new Cudgegong Road Station to be built as part of the North West Rail Link.
- Redbank, Richmond: Rezoning of land for up to 1,400 new homes close to Richmond Station on the Western Line.
- Ashlar, Blacktown: Rezoning of disused land between Blacktown and Marayong train stations for up to 1,200 homes close to Blacktown CBD.
Treasurer Andrew Constance said the Government has taken strong steps to drive housing construction and boost supply by targeting first homebuyer incentives to new homes. He also confirmed that the current $650,000 First Home Buyers Grant threshold will be increased to $750,000 in the upcoming budget.
“As we accelerate housing supply in NSW, we will also ensure more young families are supported when they enter the property market,” Mr Constance said.
“This year’s Budget will increase the threshold of the First Home Buyers Grant for new homes to the value of $750,000, a $100,000 increase”.
“This will make the dream for young families of owning their own home that bit easier”.