Huge change coming for renters in one Aussie state – what you need to know

The NSW Government will invest $450 million to build at least 400 new apartments across the Sydney metro so essential workers can rent them at a subsidized rate.

Essential workers will benefit from the build-to-rent scheme, the state government said in a press release on Sunday.

The plan aims to “increase the supply of well-built, well-located, safe and accessible rental accommodation for the essential workers who keep Sydney running but are being priced out of the market.”

Nurses, paramedics, teachers, paramedics, paramedics, police officers and firefighters are among the residents who will receive the benefits.

The funding will enable Landcom, a NSW-owned land and property development organisation, to acquire up to four new sites to build at least 400 new apartments over the next three years.

Essential workers will benefit from the build-to-rent scheme, the government wrote in a press release on Sunday (stock image)

“Landcom will select sites with a preference for surplus government land that has been identified as suitable for residential development and the specific location of which is to be further determined,” the government said.

‘The homes will be offered to essential workers at a discount on market rent through a separate subsidy program.

‘The Government will retain ownership of the properties, with rental income available to help fund a potential future additional expansion of the Government’s key worker housing programme.’

The apartments will be located within the Sydney metro, with the aim of offering essential workers the opportunity to work and live in the communities where they work.

Subject to approval of construction plans, construction of the first site is expected to begin in early 2026, with essential workers expected to move in from late 2027.

Further details, including eligibility criteria and housing benefit, will be available closer to the completion of the first site, the government said.

NSW Premier Chris Minns said housing affordability and availability were the “biggest pressure” for people in New South Wales, with mortgage payments or rent the biggest expense for most households, especially essential workers.

Treasurer Daniel Mookhey, who will release the state budget on Tuesday, said the policy was a ‘must have’ while ‘in the grip of a housing crisis’ (stock image)

“NSW would grind to a halt without nurses, paramedics, teachers, police officers and firefighters, but many cannot afford a place to live in Sydney close to where they work,” Mr Minns said.

‘This has to change.

‘We are pulling out all the stops to tackle the housing crisis and one of the best ways to make rents more affordable is by building more homes.’

Treasurer Daniel Mookhey, who will release the state budget on Tuesday, said the policy was a “must have” while “in the grip of a housing crisis”.

“This investment will give hospital workers on the night shift, late patrol police and so many other essential workers the opportunity to live close to their work,” he said.