NSW government extends AIF for 3rd round

NSW Premier Dominic Perrottet announced that 41 councils will be able to apply for a share of the latest round of the Accelerated Infrastructure Fund (AIF) due to high growth in those areas, unlocking tens of thousands of homes across the state in the process.

Under these changes, 23 regional councils will be eligible to apply for a share of $120 million, while $180 million will be made available for 18 metropolitan councils throughout Newcastle, Wollongong, Central Coast and Greater Sydney where eligible.

Mr Perrottet said the decision to extend the AIF program for a third round was to assist councils in rolling out “crucial infrastructure projects that support the delivery of much needed new homes”.

“It’s about getting keys in doors and giving people the opportunity to own their own home,” Mr Perrottet said. 

“To be able to unlock land and increase supply, our state needs the vital infrastructure in place to allow community growth – this includes roads, sewerage systems, stormwater drains and parks.”

NSW Minister for Regional NSW and Deputy Premier Paul Toole said 23 out of the 41 eligible councils were regional areas. 

Mr Toole said this demonstrated the “NSW government’s commitment to helping eliminate housing pressures right across the state”.

“When you build a house, you’ve got to lay the foundations first,” Mr Toole added. 

“This funding lays the foundations to unlock more land and build thousands of homes in the communities where they’re needed the most.” 

Mr Toole further stated that this plan builds on the investment being made across regional NSW to “help fast track construction of new homes and ease housing pressures as communities grow”.

NSW Treasurer Matt Kean added that the third round of the AIF plan will “help support both immediate and anticipated population growth”. 

Mr Kean added that he was “thrilled” over the extension of the package due to the “excellent results to date”.

“Since 2020, the AIF program has supported 38 local infrastructure projects across eight Sydney councils, supporting more than 100,000 new homes and creating around 3,220 jobs,” Mr Kean said.

NSW Minister for Planning and Minister for Homes Anthony Roberts stated the investment is a component of a “suite of end-to-end measures” designed to put downward pressure on house prices and make home ownership “a reality for more people in NSW”.

“This is a great example of state and local government working together to accelerate projects that stimulate the economy, fast-track new properties, and create jobs,” Mr Roberts said.

The announcement follows the confirmation in June that NSW planned to invest almost half a billion dollars in expediting housing supply and infrastructure.

Earlier this month, the ACT government announced that it will deliver a “comprehensive” housing package to improve the affordability, diversity and supply of housing in Canberra as part of a package of measures in the territory’s budget.

With ACT’s population expected to reach 500,000 by the end of the decade, housing supply was one of the government’s focuses in the 2022 budget.

[Related: ACT government outlines housing plans]