First Social Housing Accelerator in Riverwood

More people in New South Wales will have access to their own home with a $6.2 million redevelopment of residential dwellings in Riverwood - the first project in the state announced under the Federal Government’s Social Housing Accelerator payment.

The NSW Land and Housing Corporation is delivering 11 homes for seniors at Methuen Parade, Riverwood, configured as five one-bedroom and six two-bedroom units.

The development is replacing three existing dwellings, is close to Narwee shops and local transport. Construction is set to begin this month, with completion expected by September 2024. The project will be wholly funded by the Social Housing Accelerator.

The Federal Government announced its $2 billion Social Housing Accelerator in June, including $610 million for NSW, which will increase Australia’s housing supply by creating thousands of social homes across Australia.

This project is the first of many that will boost social housing supply and get more people into homes sooner in NSW, with around 1,500 social homes to be added to the state’s existing social housing portfolio through the Federal Government’s Social Housing Accelerator.

The NSW Government is committed to working alongside the Federal Government to deliver an ambitious housing reform agenda by investing heavily in critical new social and affordable housing supply through various reforms including the Social Housing Accelerator.

Today’s announcement builds on agreement by National Cabinet to the most significant housing reforms in a generation, including a new national target to build 1.2 million new well-located homes, the National Planning Reform Blueprint, and A Better Deal for Renters.

At National Cabinet, the Federal Government also committed $3 billion to the New Homes Bonus to incentivise states and territories to undertake the reforms necessary to reach the 1.2 million well-located homes target, and $500 million for the Housing Support Program to help local and state governments deliver new housing supply in well-located areas.

The NSW Government has also committed to establish Homes NSW to deliver better outcomes for public and social housing tenants, deliver more affordable and social housing and reduce the number of homeless people in NSW.

Quotes attributable to Prime Minister Anthony Albanese:

“Everyone deserves the security of a roof over their head – the Social Housing Accelerator is real dollars, driving real change and building more homes for Australians.

“This is the second Social Housing Accelerator project we’ve seen kickstarted into action in just weeks across the nation, and we will continue working with the Minns Government to get on with the job of delivering more social housing.

“We have an ambitious housing agenda which includes the delivery of 30,000 social and affordable homes through our Housing Australia Future Fund.”

Quotes attributable to Premier of New South Wales, Chris Minns:

“Every person across New South Wales should have access to a safe and secure place to call home.

“Housing affordability and availability is the biggest single pressure facing the people of New South Wales, with mortgage payments or rent the largest expense for most households.

“This is just the beginning. Through dedicated funding from the Federal Government, the new Housing Australia Future Fund, and funding allocated through the NSW state budget, this state is ready to make meaningful change to the social housing sector while getting roofs over the heads of those who desperately need it.”

Quotes attributable to Federal Housing Minister, Julie Collins:

“We know Australia’s housing challenges are serious which is why we’re taking immediate action with our $2 billion Social Housing Accelerator.

“This new funding, and the homes we are announcing today, will mean more Australians have a safe and affordable place to call home.

“This will make a real difference - here in New South Wales and right across the country.”

Quotes attributable to the New South Wales Minister for Housing and Homelessness Rose Jackson:

“Our priority is to continue to deliver more social and affordable housing across NSW.

“There are 55,880 people across this state on the social housing waitlist and this funding is about getting more people into homes sooner.”