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{{propApi.successMessage}} {{region}} Change locationIncreased infrastructure investment needed to support the delivery of greenfield housing (NSW)
Increased infrastructure investment needed to support the delivery of greenfield housing (NSW)
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“Media reports today following the release of the Western Sydney Building Blocks report by the UDIA have again underlined the lack of infrastructure as a key roadblock contributing to a lack of land supply.
“With the median price of land in Sydney now at a staggering $710,000, the ongoing shortage of available and serviced greenfield land will only continue to drive the costs of land up further.
“The recent Centre for International Economics Report on taxation in the housing sector, commissioned by HIA highlighted that the average house and land package in Sydney is subject to a whopping $576,000 in government taxes, regulatory costs and charges.
“The cost of land together with the high cost of government taxes and charges is putting home ownership out of reach for many families. It is critical that governments reinvest funds collected from the taxes and charges on new homes into the infrastructure needed to unlock more land and help put drive down the cost of buying a home.
“Greenfield housing must continue to be an important component of the housing mix if we are going to build 377,000 new homes. New apartments in existing areas alone are not going to be enough.
“We need to build more houses everywhere, of every type, for everyone,” concluded Mr Armitage.
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