This is an important next step as the NSW Government continues to look at ways to address the housing crisis in NSW.
Led by the Minister for Housing, Minister for ³Ô¹ÏÍøÕ¾lessness Rose Jackson, the four-week public consultation opens today with the release of a discussion paper and an online questionnaire.
Through this review the NSW Government will work with all stakeholders to ensure outcomes contribute meaningfully to increasing housing affordability, and stability in NSW.
Specific feedback which will be sought and considered throughout this process includes:
- The adequacy of the STRA planning and regulatory framework, and options for improvement.
- Potential policy options, including measures to incentivise property investors to make properties available for long-term rental accommodation.
In NSW, housing affordability and availability are at their lowest levels in decades.
Even though NSW has the largest population, it is last on the east coast when it comes to housing completion.
Building approvals and construction activity have slowed while build costs have skyrocketed.
Rental vacancies are low and there are more than 55,000 people on the waitlist for social housing.
This week alone, two independent reports highlighted the magnitude of the housing crisis facing Australia’s most populous state.
The Productivity Commission reported that Sydney was at risk of becoming a city with no grandchildren if we do not meaningfully address the housing crisis.
Whilst an analysis by ³Ô¹ÏÍøÕ¾lessness NSW showed that homelessness has risen across 58 of the state’s 128 local government areas in the past year alone.
The NSW Government is taking action to strike the right balance between supporting our local communities, supporting the visitor economy and jobs, whilst addressing the homelessness, housing and rental crisis.
Whilst the review and potential reform of STRA alone is not a silver bullet, it is an important step towards fixing existing structural issues in the housing market.
All options are on the table in this review and the NSW Government looks forward to seeing extensive feedback from industry as well as the community.
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