The Property Council of Australia has welcomed the release of plans to transform a surplus Government site in Annandale into hundreds of new homes.
The NSW Government unveiled the concept designs and plans for the former WestConnex dive site, which will deliver a mix of homes close to jobs, transport and health services – with one of the largest allocations of affordable rental apartments for key workers seen in the city to date.
The masterplan for the site includes 220 Build to Rent units for essential workers and approximately 357 additional units including market and a portion of affordable homes.
“Our essential workers are being pushed to the city’s edges – or out of Sydney altogether – because they simply can’t afford to live near the jobs and services we all rely on.
“This project is a great start and reflects the kind of ambition we need to see in unlocking more government land for housing – we need dozens more like it across the city.”
Katie Stevenson, Executive Director – NSW, Property Council of Australia
The Property Council stated that the scheme positively responds to the alarming housing affordability pressures revealed in the Council’s ‘Beyond Reach’ research on essential worker housing released last November.
“We would welcome further clarity on the proportion of affordable housing to be delivered and how this proposal contributes to the Government’s target of delivering 30% social, affordable and universal housing across its property portfolio, to give industry the clarity it needs to partner on solutions.”
Katie Stevenson, Executive Director – NSW, Property Council of Australia
The Property Council’s research also showed that in most parts of Greater Sydney, even dual-income essential worker households earning well above the average could not afford to buy or rent a home without housing stress. Single-income essential workers were effectively locked out.
“Projects like Annandale show what’s possible when government takes the lead in unlocking underutilised land and backing innovative delivery models. But the pipeline can’t end here.
“We need faster planning pathways to support the delivery of more affordable and essential worker housing, more land released, and a holistic rethink of the taxes and charges that make so many developments unviable.”
Katie Stevenson, Executive Director – NSW, Property Council of Australia
