NSW Government Puts Vacant Properties Up for Auction

The NSW Government has listed 11 underutilised properties for auction as part of a land audit program aimed at tackling the housing crisis.

Surplus Land to Hit the Market

The properties, located across Sydney, were deemed “surplus” by the government departments that owned them and had remained vacant. As part of the audit, these sites were assessed for potential use before being released for sale.

April Auction Event

All 11 properties will go under the hammer at a centralised auction in April, with some expected to fetch up to $3 million. The sales are anticipated to generate significant interest from developers and investors.

Government Housing Bodies Declined Sites

Before being offered to the public, the properties were first made available to Homes NSW and Landcom. However, both government-owned housing bodies rejected the sites, leading to their release for private sale.

This begs the question: 

If both Homes NSW and Landcom denied the offer to purchase the vacant properties, why would the public want anything to do with these essentially forgotten vacant properties? 

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