See which suburbs in NSW will have a surge of new homes

See which suburbs in NSW will have a surge of new homes

• Posted By Property Management team

The Australian federal government has announced a $182 million infrastructure funding boost for New South Wales (NSW) to support the construction of 25,000 new homes. This is part of the Housing Support Program, a $1.5 billion fund aimed at improving infrastructure to enable more housing. The funding will go towards essential infrastructure like roads, water, and sewer systems across nine locations in NSW, including regional areas such as Kempsey, Goulburn, Griffith, and Cessnock, as well as suburbs in Sydney like Parramatta and Schofields.

The government is focusing on building critical infrastructure to unlock new housing opportunities. For instance, Kempsey will receive $90 million to support over 470 new homes, while Parramatta's $10 million greenspace project is expected to enable the creation of 15,000 homes.

Experts suggest that improved infrastructure can lead to higher home prices over time, making areas more desirable, though residents might face short-term disruptions during construction. Investors are also expected to benefit from the increased value of properties near major infrastructure projects.

The funding builds on previous initiatives aimed at increasing housing supply, with some projects already underway. Despite the potential long-term benefits, there are concerns about planning delays and high taxes hindering faster housing delivery.

Credit: Juliet Helmke