Australian Property Updates

Property Information & Real Estate Updates

First stage has been completed – 752 new homes in NSW

NSW Housing Minister Frank Terenzini today announced the State Government was ahead of schedule in completing the first stage of the Australian Government’s Nation Building Economic Stimulus Plan social housing initiative.

“Housing NSW’s first target was to deliver 752 homes by June 30, 2010,” Mr Terenzini said.

“This target was achieved in mid-May. “

“As of the end of the financial year, Housing NSW has delivered 877 new stimulus homes, with a further 5,270 under construction. “

“The delivery of stage one so promptly shows how effective this model of social housing delivery has been for the state. “

“Through proper planning processes, on-time construction delivery and effective project management, we have housed thousands of people across the state in homes that are environmentally sustainable and energy efficient.  “

“We have given homes to those who need them most and have specifically designed properties for tenants with additional needs such as seniors and the disabled.  “

“In fifteen months, we have gone from the announcement of the stimulus plan to having 6,000 properties under construction, with the flow on benefits to housing affordability.  “

“We also have 137 firms of small, medium and larger builders hard at work delivering completed projects every week.”

Stage two of the program is currently underway, with an expected completion date of June 2012.

The Australian Government is investing $1.9 billion as part of its Nation Building Economic Stimulus Plan to deliver around 6,000 social housing homes in NSW.