New South Wales is set to shell out an additional $400m to transform
land and make them ready for over 664,000 new housing units in the next
15 years.
NSW is also looking at spending another $19m to create a planning body to oversee the housing project for the state.
According to a report by the Australian Financial Review, the latest increase to the Housing Acceleration Fund comes on top of the $566.5m invested in the fund since its inception in 2012. This brings the total spent on land preparation close to a total $1bn.
NSW is currently leading Australia’s housing construction boom which is targeted to produce more than 200,000 new dwellings this financial year and the next. However, NSW needs to speed up the production of new homes after a decade of underinvestment, the report added.
NSW recorded 49,000 new housing starts in the 12 months to December last year, the highest since 2003.
"The Government is taking concerted action to address housing supply, and therefore housing affordability," Treasurer Gladys Berejiklian was quoted as saying. "With our surplus position, we have put an additional $400m in the Housing Acceleration Fund, the largest ever single contribution, to go directly towards the infrastructure required in growth areas and to bring housing to market as quickly as possible."
Moreover, Glenn Byres, Property Council of Australia NSW executive director, said he is hopeful that the state “continues to step up in the national tax reform debate and begin shifting away from inefficient taxes that hurt housing affordability and the economy”.
Elite Wealth Creators have been involved in the property and finance industry for over 20 years. Our Investment Property Strategists deliver investment grade properties to the investment market and mediate between the developer and the investor. We also assist first home buyers in purchasing their first home in QLD through our house and land packages – this includes receiving $20,000 cash back towards their mortgage by buying one of our full turn-key packages.
Our service will take you through the complete process of buying positive cash flow property, including:
• educating you on positive cash flow and the ability to pay your mortgage off years in advance
• saving you thousands of dollars in interest
• supporting you in the decision on which property to buy
• assisting in the organizing of your finances, if required
• preparing you for settlement of contracts
• liaising with other professional advisers on your behalf if required.
Our Strategists specialise in delivering quality positive cash flow property and also helping investors pay off their mortgage years in advance
http://www.
sales@elitewealthcreators.com
1800 GO ELITE
NSW is also looking at spending another $19m to create a planning body to oversee the housing project for the state.
According to a report by the Australian Financial Review, the latest increase to the Housing Acceleration Fund comes on top of the $566.5m invested in the fund since its inception in 2012. This brings the total spent on land preparation close to a total $1bn.
NSW is currently leading Australia’s housing construction boom which is targeted to produce more than 200,000 new dwellings this financial year and the next. However, NSW needs to speed up the production of new homes after a decade of underinvestment, the report added.
NSW recorded 49,000 new housing starts in the 12 months to December last year, the highest since 2003.
"The Government is taking concerted action to address housing supply, and therefore housing affordability," Treasurer Gladys Berejiklian was quoted as saying. "With our surplus position, we have put an additional $400m in the Housing Acceleration Fund, the largest ever single contribution, to go directly towards the infrastructure required in growth areas and to bring housing to market as quickly as possible."
Moreover, Glenn Byres, Property Council of Australia NSW executive director, said he is hopeful that the state “continues to step up in the national tax reform debate and begin shifting away from inefficient taxes that hurt housing affordability and the economy”.
Elite Wealth Creators have been involved in the property and finance industry for over 20 years. Our Investment Property Strategists deliver investment grade properties to the investment market and mediate between the developer and the investor. We also assist first home buyers in purchasing their first home in QLD through our house and land packages – this includes receiving $20,000 cash back towards their mortgage by buying one of our full turn-key packages.
Our service will take you through the complete process of buying positive cash flow property, including:
• educating you on positive cash flow and the ability to pay your mortgage off years in advance
• saving you thousands of dollars in interest
• supporting you in the decision on which property to buy
• assisting in the organizing of your finances, if required
• preparing you for settlement of contracts
• liaising with other professional advisers on your behalf if required.
Our Strategists specialise in delivering quality positive cash flow property and also helping investors pay off their mortgage years in advance
http://www.
sales@elitewealthcreators.com
1800 GO ELITE
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