Not a single build-to-rent in two years

The NSW Government’s policy on build-to-rent, not surprising, has failed - with the streamlined planning approvals process only clearing one project in the past two years.

 

Reforms to the planning system that were supposed to make it easier for industry to invest and begin Build-to-Rent projects have failed to deliver.

10 March 2023

ALAN HAYES

 

YET again Dominic Perrottet is promising he will introduce a package of measures to support renters through Australia’s widespread housing crisis if re-elected.

 

Espousing hollow rhetoric at every turn, Perrottet is not dissimilar to one of those pageant contestants who will cling onto any cause just to win the coveted prize – a sparkling, diamond encrusted tiara. Except Perrottet’s pageant is more of the same-old, same-old – 'the government has a plan to fix the housing crisis'.

 

Perrottet claims his reforms are a “balanced” and “holistic package”, which provides certainty for renters by encouraging long-term tenancies. A familiar ring that’s chimed too many times before but now, just like the American Liberty Bell, the ‘government’s bell to ring in hope’, for an unfordable rental market, has a gigantic crack in it.

 

When announcing the rental planning changes in 2021, then Treasurer Dominic Perrottet said “We’re leading the way in Australia when it comes to build-to-rent housing”. Except Mr Perrottet has failed to see that NSW is lagging behind other states when it comes to providing affordable rental housing.

 

Victoria has significantly more Build-to-Rent projects in the pipeline - 13,124 compared to NSW’s 3,512. (Urbis)

 

While the Queensland Government has approved projects both on public and privately owned land to boost housing supply with 1,200 new apartments.

 

Under the Liberals, NSW has a housing and rental crisis, especially in regional areas of the state, particularly on the Central Coast, where there are simply fewer options. A lack of housing options means many regional communities and businesses are struggling to attract and retain key workers.

 

The Australian Bureau of Statistics recorded building approvals in NSW in January this year had fallen to around half of the approvals of a month before.

 

NSW Labor, unlike the Perrottet Government has a plan to provide affordable housing – a gamechanger that will see Landcom tasked to deliver the extra rental stock over two years on existing surplus government land - which means 30 per cent of dwellings will be used for social, affordable and universal housing.

 

Rental properties will be managed by an appropriate government agency – like Teacher Housing or recently announced Homes NSW – or a community partner with any profits to be reinvested into social housing.

 

This commitment to take real action and invest in build-to-rent projects is just one part of Labor’s strategy to make housing more affordable for the people of NSW.

 

Paul Scully, NSW Shadow Minister for Planning & Public Spaces said “This is another example of the continued failure of the NSW Liberals and Nationals to deliver homes for people.

 

“NSW Labor understands that people are struggling to not only to find but also to afford housing in NSW.

 

“We will deliver a fresh start for housing in NSW by removing the complexities in the planning system and using surplus government land to deliver more housing.

 

“This includes new models of build-to-rent to be delivered by Landcom, the state-owned home delivery agency.”

 

On the Central Coast social issues such as unemployment, homelessness, lack of affordable housing, poverty and domestic violence have significant impact on many residents within the community.  But to break this nexus we need a plan – one that will provide affordable housing for some 8000 ‘Coasties’.

 

Dominic Perrottet talks up a big game when it comes to affordable housing but fails to deliver – he has failed those in need on the Central Coast.

 

Shadow Minister for Housing & Homelessness Rose Jackson said “NSW has an affordable rental crisis. Every person standing in queues to find a place or facing skyrocketing rents knows this - the only people who don't seem to understand is the NSW Government.

 

“These figures are an embarrassment for our state - we should be leading the nation, but instead we're lagging. We will lose out in the competition for skills and talent if we can't offer affordable rentals to working people.

 

“Build to rent is an important policy framework to deliver affordable rentals and these latest figures are yet another example of the failure and neglect of the NSW Government.”

 

And what about the Perrottet Government? All they have managed to do is to not solve the affordable housing crisis but to introduce legislation outlawing the promotion of what’s termed rent bidding, or the idea that both a landlord and a prospective tenant can come to a mutual agreement on that tenant’s rent. So, now we must accept the prohibition of speech used in everyday negotiation since the dawn of time - non-compliance includes a $5,500 fine. True liberal democracy!