NSW Targets 377,000 New Homes by 2029: A Breakdown of Regional Contributions
The NSW government has set an ambitious target to build 377,000 new homes over the next five years, surpassing its obligations under the National Housing Accord by 2,000. Here's a breakdown of where these homes will be built and the challenges ahead.
Focus on Infill Development
Almost all new homes will be built in infill areas—existing urban spaces that can accommodate higher-density development. Only 18% of homes will be constructed in greenfield locations, which require significant investment in infrastructure like roads, public transport, and schools.
Eastern LGAs Leading the Charge
The Eastern Local Government Areas (LGAs) will take on a substantial share, planning for 107,100 new homes—41% of Sydney's total target. These LGAs include Bayside, Burwood, Inner West, Ku-ring-gai, North Sydney, and more.
Ku-ring-gai's Challenge
The Ku-ring-gai LGA, known for opposing the state’s Transport-Oriented Development (TOD) scheme, faces the largest shortfall. Assigned a target of 7,600 new homes, only 20% of this goal is currently in the pipeline.
Central and Western LGAs Share the Load
- Central LGAs (Blacktown, Canterbury-Bankstown, Parramatta, and others): 97,200 homes (37% of Sydney’s total).
- Western LGAs (Liverpool, Penrith, Camden, and more): 59,100 homes (22% of Sydney’s total).
Regional Contributions
Beyond Sydney, regional areas will play a key role:
- Central Coast: 9,400 homes
- Illawarra-Shoalhaven: 18,800 homes
- Greater Newcastle: 30,400 homes
- Outer regional NSW: 55,000 homes
Ready to Unlock Your Property Investment Potential?
Thinking about starting your property investment journey?
At Supavest, we’re dedicated to turning your investment aspirations into reality.
Connect with our team today to explore our exceptional property investment opportunities, including Supavest OCP and our innovative fractional property investment solution, TIC Property.