The Australian Institute of Architects New South Wales Chapter has praised the state government’s 2023-24 budget, saying the housing supply initiatives hold promise for those looking to find a safe and suitable place to live.
NSW chapter president Adam Haddow said positive social and affordable housing investments announced in the budget include: the $300 million to be reinvested in Landcom, a government-owned property developer, to accelerate the construction of 4,697 new homes including 1,409 affordable homes; the $610 million in funding negotiated with the federal government’s Social Housing Accelerator program for 1,500 additional social housing dwellings; and $79.3 million for new supply of First Nations housing.
The $9.1 million to assess housing supply opportunities across government-owned sites could potentially deliver some important gains, he said.
“We strongly encourage the government to invest in well-connected existing suburbs to achieve the state’s housing goals rather than relying on disconnected and poorly performing greenfield development,” Haddow said.
“We need to invest wisely to ensure that NSW remains an equitable and fair society.”
The Institute will continue to examine the budget, including the appointment of a rental commissioner and the $60 million government investment in build-to-rent trials in the South Coast and Northern Rivers.
“It is important that the build-to-rent trials target those struggling most, and include dwellings suitable for families,” Haddow said.
“We are genuinely excited about the emerging sector of build-to-rent asset holders who will be focused on good quality design to deliver long term durability, sustainability and liveability.
“We hope that the trial will help deliver a significant number of rental properties underpinned by institutional investors committed to creating long-term vibrant residential communities with excellent amenity, and that this brings affordable family-sized dwellings to our private rental market with secure long-term tenancies.”
The budget outlines the allocation of $24 million to establish the NSW Building Commission to support the delivery of quality housing, protecting homebuyers from substandard buildings.
“The Institute has made an unwavering commitment in its continual policy advice and technical input to address NSW’s building quality – especially our extensive work with the government and the Building Commissioner on the whole scheme of Design Declarations and Certifications,” Haddow said.
“We are glad to see that the budget has made good on its earlier announcement to establish a new Building Commission before the end of 2023.”
