NSW Government Activates US$ 685 million Housing Guarantee With Inner-West Sydney Project
- brg_news_room
- 6 days ago
- 1 min read
Australia: The New South Wales Labor government has activated its US$ 685 million Pre sale Finance Guarantee program by supporting a 225 apartment mixed-use development in Rozelle, in Sydney's inner west. The US$ 195 million Rozelle Village redevelopment, located on the former Balmain Leagues Club site on Victoria Road, is the first project to receive backing under the scheme. The programme allows the state government to commit to presales for up to 50% of homes in approved developments, aiming to help projects secure finance and move into construction. The development will include residential units, retail space, community facilities, a public plaza, and up to 32 affordable homes.
According to NSW Treasurer Daniel Mookhey, the initiative is intended to address presale requirements imposed by banks, which have been identified as a key barrier to housing delivery. Industry groups, including the Property Council of Australia, said the guarantee could help unlock long-approved projects stalled by financing constraints. The announcement comes amid continued pressure on housing supply in New South Wales, where unmet targets are expected to contribute to rising dwelling values over the coming years.
Source: MPA
