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“With the potential to provide over 20,000 new dwellings, over 9 sub-precincts, the 300-hectare site is one of the most exciting mixed use urban renewal projects in Australia.
“The opportunity to combine sport, entertainment, employment and housing will revolutionise the way we live, work and play.
“With an exceptionally high level of demand for residential building in the lower Hunter, the stage 1 state led rezonings will be a catalyst in alleviating pressures on the housing sector, delivering much-needed housing stock.
“Over the next 30 years the supply of diverse housing will have a significant impact on broader economic activity, which will in turn result in societal benefits.
“This precinct provides a once in a generation opportunity to be bold and ambitious,” Mr Jennion concluded.
“Australia’s population reached 27.4 million by the end of 2024, up by 445,900 people, or 1.7 per cent for the year,” stated HIA Senior Economist, Tom Devitt.
The Tasmanian election that no-one wanted to have is in full swing, and while the limited campaign period is unlikely to provide the usual platform to promote key policies and reforms, HIA is calling on both major parties to prioritise housing policies given the significant challenges across the state.
“Our dated and complex planning system is littered with speed bumps that could easily be removed”, said Brad Armitage, HIA NSW Executive Director.
“The Victorian government’s proposal to update home building contract laws to make them fit for use in the 21st century is welcomed by HIA,” stated HIA Executive Director, Keith Ryan.