The NSW Budget has landed – Property Council NSW Executive Director Katie Stevenson says it’s a turning point for housing delivery and industry confidence.
Katie said a standout measure was the introduction of the Pre-Sale Finance Guarantee, a new $1 billion scheme designed to unlock stalled housing projects by helping developers meet tough pre-sale thresholds.
“This responds directly to calls made by the Property Council for a financing mechanism to unlock projects held back by commercial risk and lending constraints.
“In May last year, we partnered with the Australian Banking Association to convene a Ministerial Roundtable, gathering leaders from industry, finance and government to explore ways to de-risk housing projects and improve feasibility.
“The reality is that good projects – those with planning approval, strong partners and real demand – are stuck in limbo because they can’t meet unworkable pre-sale thresholds. This guarantee helps to break that deadlock.”
Katie said the Budget showed Government had been listening on other key industry pain points: planning reform, infrastructure delivery and workforce capability.
“We’ve got backing for a faster approvals system, more planning staff, better infrastructure coordination and a permanent land tax concession for Build-to-rent.
Productivity was also a major theme – with targeted funding for construction innovation and a new Investment Delivery Authority set to streamline major non-residential projects and attract capital.
Katie cautioned the road ahead remains challenging.
“This Budget takes real steps forward, but there’s still a lot more to do. We need greater certainty on contributions and land use, and we need continued focus on feasibility.”
“But overall, this is a confidence-building Budget. It’s a signal to the market that NSW is serious about delivery – and that our voice as an industry is being heard.”
The full list of wins for housing, planning and productivity is available on the Property Council’s website, with a post-Budget Q&A featuring the Treasurer scheduled for this Thursday in Sydney.