NSW Election 2011

Coalition Housing Policy

On 7 February 2011, NSW Opposition Leader Barry O’Farrell announced measures a Coalition government would put in place to boost the supply of new housing in NSW, should they be elected at the 26 March election. The details are outlined below.

• A NSW Liberals & Nationals Government will target the release of 10,000 blocks by Landcom over four years.
• All profits raised from this land release will go into the New Homes Infrastructure Trust dedicated to local urban infrastructure like water, sewerage and roads.
• Mr. O’Farrell stated that a Coalition government would achieve the housing release aim by:
  • Accelerating the release of land currently in Landcom's  inventory;
  • Promoting the faster release and sale of land through existing Joint Ventures with the private sector; and,
  • Seeking to work with small landholders to consolidate land parcels into larger developments.
• The plan would amount to an increase of around 30% in Landcom's sales of dwelling equivalents from current levels.
• The new initiatives are designed to complement the plans the NSW Liberals & Nationals have already announced to address the housing affordability crisis in Sydney, including:
  • Repealing NSW Labor's $429 million 'Homebuyers Tax' on property purchases;
  • Providing a Regional Relocation Grant of $7000 to encourage 'whole of NSW' growth and take the price pressure off Sydney's housing supply; and,
  • Extending stamp duty concessions to Empty Nesters who are over 55 years old.
• Shadow Minister for Financial Management and Housing Strategy, Greg Pearce, said Labor had failed to address the housing affordability crisis. "There are some alarming statistics - only 64 percent of Sydney households own or are purchasing their home – less than every other Australian capital except Darwin," Mr Pearce said.
• New housing over the last three years has averaged only 16,300 houses – some 32 percent under the State Plan target of 24,000.