A greater supply of houses is the state government’s new response to fixing Sydney’s inflated property market.
Minister for Housing and Planning Anthony Roberts announced a plan that will see 18,000 new homes, including freestanding homes and terraces, built over the next five years.
“We have a housing affordability crisis in this city and we need to do all we can to lift supply and get new home owners in the market,” he said.
Part of the state government’s strategy will see an expanded suburb able to accommodate 4300 extra new homes created through the release of 300 more hectares of land in west Schofields.
Once the area is fully developed over the next few decades, it will provide 90,000 homes and 41,000 jobs.
Riverstone MP Kevin Connolly said the release of the land north of Schofields Road means that planning for these 300 hectares will occur jointly with planning already underway for the southern part of the precinct.
“We recognise that to provide a range of housing types, public spaces, new parks, schools, roads and services, with good access to jobs and essential infrastructure, the entire west Schofields precinct should be planned at the same time," he said.
Mr Roberts made a point of the importance of housing for keystone industries where it is critical for employees to work close to home.
“With respect to key worker housing – it is critical to our communities of the future,” he said.
“I don’t want nurses travelling an hour and a half to go to their shift.”
In response to media questions about whether land had been reserved for these keystone industries in west Schofields, Mr Roberts would not be drawn, only reiterating that a greater supply of houses would see house prices fall to more affordable costs for new home owners.