US EditionWhat Is Mookhey’s $1 Billion Housing Guarantee, and How Will It Work?
- The NSW government announced a $1 billion Pre-Sale Finance Guarantee to underwrite pre-sales and accelerate construction of up to 5,000 apartments, enabling 15,000 homes over five years.
- The scheme responded to developers' difficulties securing finance due to pre-sale thresholds, with industry citing finance as the key barrier to progressing approved projects.
- Projects will receive guarantees between $5 million and $50 million, and if pre-sales fall short, the government will purchase completed homes to resell or use for social housing.
- Treasurer Daniel Mookhey described the plan as a "canny use of our state's balance sheet" while cautioning that "a lot needs to go right" for success and public money must be justified.
- The guarantee aims to address housing supply challenges by improving developer confidence, with industry leaders calling it a smart policy that supports diverse, affordable, and family-friendly housing.
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14 Articles
14 Articles
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Left
5
Center
Right
2
Coverage Details
Total News Sources14
Leaning Left5Leaning Right2Center0Last UpdatedBias Distribution71% Left
Bias Distribution
- 71% of the sources lean Left
71% Left
L 71%
R 29%
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