Aerial view of Cooranbong with recent residential development | Lake Macquarie City Council
The State Government is investing in Lower Hunter local councils to deliver infrastructure projects to support more new homes being built.
A funding pool of $300 million has been announced for 41 councils, including almost all of those in Hunter, as part of the Accelerated Infrastructure Fund for the delivery of roads, sewers, public space and storm water and electricity infrastructure.
Under Round 3 of the initiative, the City of Newcastle was funded under the metropolitan branch, Cessnock, Maitland, Lake Macquarie and Port Stephens Councils came under the regional umbrella, while Dungog appears to have missed out.
It is hoped by laying the foundations, more housing developments and stock will come onto the market and burst the current crisis being felt across New South Wales.
Minister for Planning and Minister for Homes Anthony Roberts said the investment is part of a suite of end-to-end measures aimed at putting downward pressure on house prices and making home ownership a reality for more people.
“This is a great example of State and Local Government working together to accelerate projects that stimulate the economy, fast-track new properties, and create jobs,” Mr Roberts said.
The available cash will be split with $180 million going into metropolitan, which includes Newcastle, and $120 million for all other local councils.