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“The announcement that the rezonings and consolidated planning controls for Gosford City Centre and West Gosford will be progressed under the State Significant Rezoning Policy demonstrates serious intent to tackle the housing crisis.
“Announcements such as this provide the certainty the construction sector needs. As a result, the NSW Government is giving builders and developers the confidence to invest capital and resources in Gosford.
“With high level of demand for residential building on the Central Coast, the rezoning will in time be a catalyst in alleviating pressures on the housing sector, delivering much-needed housing stock.
“Over time the supply of diverse housing will also 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 ambitious. Governments, industry, and the broader community must dream big to ensure we develop this locality to its full potential,” Mr Jennion concluded.
The Housing Industry Association (HIA) has welcomed the Queensland Productivity Commission’s (QPC) Final Report as a vital blueprint for improving housing supply and affordability. However, HIA warns that the State Government’s refusal to tackle local government planning barriers threatens to derail the entire reform agenda.
“Lower interest rates have seen the volume of new homes commencing construction increase, but they still remain well below the government’s target,” stated HIA Senior Economist, Maurice Tapang.
The latest dwelling commencements data released by the Australian Bureau of Statistics today shows a sharp pick-up in multi-unit residential construction activity in the ACT.
“It is good to see the NSW Government taking action to address the chronic undersupply of housing in NSW,” said Brad Armitage, HIA Executive Director NSW.