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{{propApi.successMessage}} {{region}} Change locationHIA welcomes the expansion of the NSW Government’s Pre-sale Finance Guarantee
HIA welcomes the expansion of the NSW Government’s Pre-sale Finance Guarantee
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The NSW Government is expanding its $1 billion Pre-sale Finance Guarantee program to better support affordable housing and smaller residential developments, particularly in regional areas.
“Pre-sales represent a major hurdle for new housing developments, and without sufficient pre-sales, finance is harder to obtain, often delaying construction.
“The changes will provide the opportunity for developers of smaller projects and those in regional areas to get access to the finance they need to start building much faster,” added Mr Armitage.
“Key workers and young people are struggling to secure housing in regional areas, and local businesses are finding it harder to attract staff because people cannot find a place to live.
“We have already seen how effective the Pre-sale Finance Guarantee has been in accelerating the delivery of housing projects in NSW. This move builds on the other great initiatives from the NSW Government, including the planning system reforms and reflects its commitment to addressing housing supply shortages right across NSW,” concluded Mr Armitage.
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