$30 million to boost northern rivers housing supply

A Minns Labor Government will deliver more long-term affordable rental housing for regional New South Wales by investing a further $30 million for a Build-toRent program in the Northern Rivers region.

Under Labor’s plan, Landcom will be tasked with delivering the extra rental stock over two years.

Build-to-Rent programs usually involve the construction of multi-unit developments under a single owner where the property is held long term for rental purposes. The purpose of this scheme is to add to the supply of longer-term rentals in the housing market.

Under the Nationals and Liberals, New South Wales has a rental affordability crisis, especially in regional areas of the state where there are simply fewer options. A lack of housing options means many regional communities are struggling to attract and retain key workers.

Landcom will identify existing surplus government land and work with local government on potential sites.

Any properties built on surplus government land will be subject to Labor’s mandatory requirement of 30 per cent of dwellings to be used for social, affordable and universal housing.

Rental properties will be managed by an appropriate government agency – like Teacher Housing or recently announced Homes NSW – or a community partner with any profts to be reinvested into social housing.

This announcement comes off the back of revelations this week that the NSW Government reforms to streamline the planning process for housing has only managed to approve one build-torent project in two years.

Lack of supply is one of the biggest drivers of the housing crisis, Labor’s pilot will increase the number of long-term rentals available on the Northern Rivers and South

Coast.

Quotes attributable to Janelle Saffn MP, State Member for Lismore:

“When NSW Labor in February announced a Build-to-Rent pilot project for the South Coast, I put in a strong bid to Shadow Ministers Paul Scully and Rose Jackson to replicate one here on the Northern Rivers.”

“I’d already brought Landcom to our region in late 2021 to work more closely with local councils to start addressing our housing crisis, worsened by last year’s foods.”

“I see Build-to-Rent rolling out to Lismore and Murwillumbah in our Electorate of Lismore, and to neighbouring Tweed Heads and Ballina, as a natural extension of Landcom broadening its focus beyond Sydney to regional areas.”

“Local people must have the security of a roof over their heads for themselves and their children, and a practical scheme like this is one way towards achieving this goal.”