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The Real Estate Institute of NSW (REINSW) says the  Australian Government’s new infrastructure projects are an important piece of the new housing puzzle but given the onus to build more homes remains on the  private sector, more must be done for the benefits to be realised.

REINSW CEO Tim McKibbin says the announcement of nine new infrastructure projects in select regional and metropolitan areas in New South Wales, as part of the Housing  Support Program, are a welcome step.

However, Government’s consistent failure to address exorbitant property taxes and unjustifiable planning delays will undermine any potential housing supply outcomes, he  says.

“Investment in infrastructure that supports new housing is critical to opening up areas for development,” REINSW CEO Tim McKibbin says.

“But let’s be clear: Government is not planning to build any homes. That responsibility continues to rest on the shoulders of the private sector.

“Until the exorbitant tax burden Government puts on property and the delays in processing development applications are addressed, it’s difficult to see how new  infrastructure projects alone will result in the delivery of more homes. 

“Taxes and planning delays inflate the price of the property by at least 40% and this reality is yet to be addressed. You don’t get more of something by making it difficult for  someone to provide it to you,” he says.

The REINSW has called for a broader coordinated effort from all levels of Government in order to finally address the housing crisis in the state.

Part of the solution, according to Mr McKibbin, is for councils to establish a clear set of criteria to define a compliant development, and for the NSW Government to hold  councils accountable.

“There is an opportunity for the NSW Government to clearly prescribe what it expects of councils in terms of processing DAs. Those that meet expectations should retain their  planning powers, and those that don’t should lose them,” Mr McKibbin says.

“Additionally, there’s an opportunity for councils to clearly define what constitutes a satisfactory development so developers can design their projects in line with these  criteria. Every DA which satisfies Council’s criteria can then be approved straight away.

“As the system currently stands, the huge cost of planning delays prohibits new housing supply and infrastructure investment alone fails to address this,” Mr McKibbin says.

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