Millions set aside to help promote more housing in NSW regions
Government expands Low-Cost Loans Initiative to incentivise more crucial infrastructure in regional areas.
The NSW Government has unlocked another $12 million to help regional communities accelerate housing delivery with the opening of round five of the Low-Cost Loans Initiative.
The program, which is now open to all 95 regional councils across NSW, will provide financial support for crucial infrastructure projects such as roads, intersections, water and sewer upgrades.
The upfront cost of infrastructure is one of the biggest barriers to new housing, with the government helping councils across regional NSW overcome that with low-cost loans.
For the first time, the program has also been expanded to include Rous County Council, Riverina Water County Council, Goldenfields Water County Council and Central Tablelands Water County Council.
Under the competitive grants program, the NSW Government will cover up to 50 per cent of interest costs on eligible loans, helping councils bring forward projects that unlock new homes sooner.
Since the initiative launched, the government has committed more than $31.3 million to support more than $792 million in essential infrastructure projects statewide.
NSW minister for planning Paul Scully said the Low Cost Loans Initiative helps councils right across rural and regional NSW deliver the essential infrastructure needed to support growing communities.
“It reduces borrowing costs, helping councils to fast-track the roads, water and sewer services they need,” he said.
“I encourage councils to apply so they can deliver the infrastructure they need to deliver more well‑located housing where it’s needed most.”
Minister for regional NSW Tara Moriarty said regional communities need more new homes and the supporting infrastructure that makes more housing possible.
“This initiative is helping councils invest in the essential services that support new housing while strengthening the long-term liveability of regional NSW,” she said.
“By partnering with councils on infrastructure delivery, we’re creating more opportunities for people to live and work in our regional communities.”
