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The Albanese government has revealed that it will make significant investments aimed at increasing housing supply and boosting renewable energy funding.
The Labor government is investing more than $182 million in infrastructure for housing in NSW as part of a move to build 25,000 more homes across NSW.
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Funding will be used to improve infrastructure such as roads, sewage, and waterworks and to support new homes with connections to transport links and public open spaces.
Prime Minister Anthony Albanese said the major investment would “unlock an additional 25,000 homes across New South Wales” and forms part of the government’s $32 billion Homes for Australia Plan, a national target of building 1.2 million new, well-located homes over the next five years.
As part of the $182 million investment, nine projects will receive funding through the Albanese government’s Housing Support Program, which seeks to fast-track housing in regional and metropolitan growth areas.
The government claimed that the extra funds will “unlock” more than 14,700 homes in Parramatta with a $10.1 million investment in the city’s Civic Link project – a “green spine” and activated pedestrian connection from Parramatta Square to the Parramatta River.
The funding will go towards Civic Block 3, which is aimed at delivering a new green space along Horwood Place and linking new homes with public transport connections via rail, light rail, and the future Sydney Metro West.
Some of the other NSW projects receiving funding include:
- $45 million to deliver water and sewer infrastructure in Kempsey, including new water treatment plants to unlock more than 430 homes.
- $27.2 million to deliver Stage 2 of the Marulan Wastewater Treatment Plant Upgrade to unlock more than 400 new homes in the Goulburn Mulwaree shire.
- $10 million for enabling civil infrastructure for Lake Wyangan, including stormwater drainage/earthworks, installing a new stormwater outfall pump, realignment of Mallinson and Abattoir roads and construction of two new road T intersections at Boorga Road and Mallinson Road to enable 500 homes in and around Griffith.
- $45 million to construct a new pressure sewer system, a wastewater treatment plant, and discharge system at Stuarts Point, Grassy Head, and Fishermans Reach to enable 40 homes.
- $22.1 million for road, intersection, and utilities upgrades between Bellbird North Urban Release Area and Cessnock CBD to enable 900 new homes in Cessnock.
- The funding follows $304.3 million already allocated to NSW for enabling infrastructure and social housing across the state as well as $22.3 million delivered to fast-track planning, the government said.
Minister for Housing and Homelessness, Clare O’Neil, said: “Our government is undertaking the biggest home-building program in Australian history, because to help more people into their first home we need to build, build, build.
“These announcements might not be the sexiest, but if we want to drastically increase the number of homes we are building in Australia we need to invest in the pipes, sewage and roads that supports this.
“I know that so many Australians are feeling utterly despondent about the possibility of owning their own home, but Labor has a plan to bring home ownership back into reach for hundreds of thousands of people.”
Green energy commitment
Separately, the government announced it would provide an additional $2 billion to state-owned ‘green’ bank, the Clean Energy Finance Corporation (CEFC).
The investment, provisioned for in the Mid-Year Economic and Fiscal Outlook (MYEFO), means the CEFC can also offer savings for households and small businesses making the switch to renewable energy, the government said.
The funding will “support Australian households, workers and businesses capitalise on our natural resources and make the shift to cheaper, clean, reliable, renewable energy,” the government said.
It added that the $2 billion would deliver renewable, cost-saving technologies to Australian households and businesses by unlocking an expected $6 billion of private investment from organisations.
The CEFC aims to work in partnership with retail banks and consumer bodies to help households and businesses cut emissions and lower power bills by delivering low-cost loans.
In 2024, the green bank invested more than $4 billion in local projects unlocking around $12 billion in private investment for regional areas, manufacturers, and industry, supporting over 4,000 jobs, the Labor government said.
“This boost to the Clean Energy Finance Corporation is expected to unlock around $6 billion worth of private sector investment, supporting local good well-paid jobs, energy security and economic growth,” Prime Minister Anthony Albanese said.
“We are building Australia’s future, not taking Australia backwards.”
[Related: Housing supply under the spotlight as building approvals drop]
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