UDIA report identifies key infrastructure gaps to enable housing supply
In launching its Building Blocks Greater Western Sydney 2021 report tomorrow at the NextGen West Urban Development Conference, UDIA NSW warns of the major economic impact from lengthy and unnecessary delays in delivering enabling infrastructure, causing a housing supply crisis and an accelerating affordability crisis.
In the 2021 report, UDIA NSW has identified the missing catalytic infrastructure on land that is rezoned and ‘ready to go’ and which could unlock approximately 70,000 lots in key areas of Western Sydney, creating 40,000 jobs and delivering close to $17 billion to the NSW economy over the next three years. The investment in the enabling infrastructure identified has been costed at approximately $423m which is equivalent to only $6,000 per lot.
The report also shows that only one third of the enabling infrastructure identified in 2018 Building Blocks report has been built over the last three years, which illustrates the lost opportunity over the last 3 years and the need for Government to move away from “business as usual’ (which is clearly not achieving results).
In our pre-budget submission to the NSW Treasurer, we provided recommendations as to how this investment could be funded including the creation of a new fund as part of a wider “Jobs and Affordability” (JAffa) Program. We also recommended direct funding be provided for key regional road and water projects like the Housing Affordability Fund (HAF).
UDIA Building Blocks Greater Western Sydney 2021 report is a significant piece of research produced in collaboration with Infrastructure and Development Consulting (IDC). The report pinpoints areas where the last missing piece of infrastructure is waiting to be delivered. It provides clear recommendations on the critical infrastructure investment needed to accelerate land holdings that can supply dwellings to market within 3 years, across four of Sydney’s Growth Centres including the North West Growth Area, the South West Growth Area, Greater Macarthur and Wilton.
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