The number of homes NSW will need to build to meet its housing targets has only been achieved once in the past 40 years, but experts say “doomer-ism” about the scale of the task should not dissuade policymakers from chasing the ambitious goal.
Analysis from the Grattan Institute shows dwelling completions per capita peaked in 2018-19 and have decreased each year since, laying bare the challenge NSW faces in lifting housing supply.
Grattan Institute economic policy director Brendan Coates said the comparison showed the new targets were ambitious but achievable. “There’s a lot of doomer-ism going on right now saying we can’t possibly hit it,” he said. The decision to cancel rezonings at Marsden Park North and Riverstone Town Centre, as well as scaling back development in West Schofields, means 2300 homes will go ahead compared to the 12,300 originally planned.Planning Minister Paul Scully said the state could still achieve its housing targets by boosting infill development closer to the city. “These were potential ... almost theoretical homes,” he said. “They had not been rezoned, we’re not taking something away.
“If the other states succeed in making housing cheaper, it will only further accelerate the ‘brain drain’ out of Sydney,” Coates said. “That is, unless the NSW government also acts.” “It helps with price point too. If you’ve got some consistency, it means some of our great suppliers and manufacturers know that there will be a marketplace for it, and they can start scaling up. That should reduce cost.”
NSW Housing Targets Grattan Institute Dwelling Completions Renters
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