Friday 1 November 2024
MEDIA RELEASE
Water Bill Increases Necessary to Support Growth
The Property Council of Australia today acknowledged the need for Sydney Water to ask the Independent Pricing and Regulatory Tribunal (IPART) for an increase in water pricing from 1 July 2025 to underpin Sydney’s growth and development needs.
In its submission to IPART, Sydney Water is proposing bills increase by 18 per cent next year, and then further increases of 7 per cent a year plus inflation.
Property Council NSW Executive Director Katie Stevenson said increases over the upcoming five-year pricing cycle would be critical to the delivery of sustainable water infrastructure to support more housing.
“We understand the impact these increases may have on residents and businesses alike, but it’s an essential step to secure long-term, high-quality water services for our city,” Ms Stevenson said.
“We need to make sure Sydney’s infrastructure keeps pace with its development – it is crucial for the future of both our residents and our economy.
“It’s important to note Sydney Water’s proposal comes after a freeze in water pricing in the final year of the previous cycle, which has helped alleviate immediate financial pressure on customers.”
Ms Stevenson said that as Sydney’s population and urban landscape continued to grow, increased investment in water infrastructure was essential for maintaining service quality.
“Sydney’s future depends on robust and well-funded infrastructure that can support a thriving urban landscape and provide certainty to the development and property sectors.
“These increases will service growth right across Western Sydney over the next decade in key growth areas including the South and North-West Growth Areas, Greater Macarthur, Greater Penrith to Eastern Creek, and Mamre Road and the Aerotropolis.
“The Property Council will actively participate in the upcoming six-week consultation process with Sydney Water to ensure that the perspectives of the property sector are fully represented.
“We are committed to working with Sydney Water and other stakeholders to find balanced solutions that support our city’s growth while being mindful of costs to the community,” Ms Stevenson said.
ENDS
Media: Emma Thompson | 0458 294 817 | [email protected]