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PCA welcomes NSW housing action

Government buildings are to be sold in NSW to deliver funds for new housing starts.

The Property Council of Australia (PCA) has welcomed the New South Wales (NSW) government's announcement of action to deliver more new homes across the state in the coming months.

A new AU$181 million fund is to be bolstered by the sale of up to AU$300 million-worth of government-owned properties across NSW in nine locations, with the cash being used to deliver more new homes across the area.

"This is a win-win situation as it makes sense to recycle capital into infrastructure that can help act as a catalyst for new housing stock," NSW executive director Glenn Byres commented.

He added that the state will be able to use the proceeds to invest in areas of public importance and also for ensuring future growth.

Meanwhile, Australian Property Investor recently reported the announcement of a new framework for the delivery of improved transport infrastructure across NSW, including upgrades for the WestConnex project to help ease the daily commute for Sydneysiders.

Posted by Steve Douglas

- property, housing, building, transport, rail

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