Premier Dominic Perrottet said the 2022 Housing Package aimed to pull all available government levers to improve housing supply, fast-track critical infrastructure and offer financial relief for first home buyers over the next four years.
The package will include $780.4 million to help single parents, older singles and key workers buy a home through a shared equity scheme. The two-year pilot program will offer 3,000 places a year; and $728.6 million over four years to introduce an option for first home buyers purchasing a home for up to $1.5 million to pay an annual property tax instead of up-front stamp duty.
“Everyone should have the right to a home, no matter where you live or what income you earn,” Premier Perrottet said.
“This is the biggest investment in addressing home ownership in decades, and it’s about leveraging the different areas of government to help people own a home.
“These initiatives in isolation will not be enough to solve the problem. That’s why this government is pulling all the levers we can to help more people get keys in doors.”
Treasurer Matt Kean said the financial elements of the housing package would support many in the community, focusing on first home buyers and those in need.
“This package aims to support those members of our community who need a helping hand, including vulnerable older women and single mums, first home buyers and essential workers who often struggle to find housing,” Mr Kean said.
Minister for Planning and Minister for Homes, Anthony Roberts, said the package was also investing in housing solutions, enabling the construction sector to deliver new supply and making it easier for people across the State to have a safe place to call home.
Housing package bid to get more into own home
FIRST home buyers will benefit from a new $2.8 billion housing package as part of the NSW Budget to “help more people get keys in doors”.