Millers Point Sales Fund Building Boom in West
Communities in Sydney’s west have been the big winners from the sale of Millers Point properties, with reinvestment figures reaching $218 million to date.
Minister for Family and Community Services Brad Hazzard said the recent sale of nine more Government-owned city properties will boost social housing in Sydney’s west.
“We have close to 60,000 vulnerable people on the public housing waiting list and every new sale in Millers Point, on average, enables us to build up to five new dwellings in western Sydney,” he said.
“Already close to 600 new homes are under construction or have been completed as a result of Millers Point sales, with almost 70 per cent of those in Sydney’s west.”
Minister for Finance, Services and Property, Dominic Perrottet said the $28 million auction results last week showed the Government’s Millers Point property recycling strategy was delivering better value and better outcomes for the people of NSW.
“This is the real difference our property recycling program is making to people’s lives – more social housing, and better social housing, for those who need it,” Mr Perrottet said.
“This Government is committed to making better use of public assets, and Millers Point is a great example of how that approach is delivering bricks-and-mortar solutions for the people of NSW,” he said.
Around 20 western Sydney suburbs including Bankstown, Birrong, Canley Heights, Casula, Chester Hill, Condell Park, Greenacre, Lurnea, Padstow, Penrith, Sadlier, Smithfield, Seven Hills and Yagoona are reaping the benefits of new construction.
Mr Hazzard said the Millers Point sales will generate 1,500 new social and affordable homes.
“The Millers Point sales mean more families in western Sydney and across the state will have a roof over their head and a place to call home,” he said.