Wednesday, June 18, 2014

NSW State Budget 2014: part 1 – social housing

Social housing will continue to consume itself under the terms of the NSW State Budget announced yesterday.

In the coming year, $612 million is allocated for new social housing supply and maintenance – a 23 per cent increase on 2013-14.

However, that money is to come from sales of social housing assets, notably properties at Millers Point and The Rocks, but other places too.

Will this process of sales and spending result in a net increase in the social housing stock? Family and Community Services Secretary, Michael Coutts-Trotter, says it will be 'line ball'.

In the context of a growing need for housing, a 'line ball' result on supply is to go backwards, and tightens the unsustainable spiral of decline in which the system is caught. Only new spending for a substantial increase in social housing stock will make the system sustainable.

1 comment:

  1. Over on our facebook page, Brown Couch reader Stephen asks about the Budget as it relates to private tenants. Thanks Stephen - we'll address that and other issues in a future post.


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