The state government had planned to build 138,000 new homes near train stations by 2029, as part of the Federal government’s plan to build 1.2 million homes across the country.
It selected 31 train stations as part of a plan to increase density and reduce emissions by encouraging the use of public transport.
However, documents revealed by the Sydney Morning Herald today suggest that only 11,400 of the homes will be completed in that period, or about 8%.
The documents were prepared by the Department of Planning during briefings with councils, and looked at how new density reforms could assist development.
It wanted to make it easier for private contractors to build new homes, and allow the construction of terraces, townhouses and low-rise apartment blocks in areas previously banned, often for aesthetic reasons.
To meet all of its new housing targets across the state, the NSW government would need to build about 75,000 homes a year, and 314,000 by the end of the decade.
However, Premier Chris Minns had already admitted it would not reach its housing construction goals, despite being less than a month in.
“We’ve been clear from the very beginning that 75,000 (new homes), from almost a standing start, would be difficult to accomplish in 12 months, but we want to see forward progress as in a major increase in the amount of development within NSW in a 12-month period,” he told media earlier this year.
Minns refused to put a date on when the state would meet any of its targets, instead simply saying they would “build as many as we possibly can”.
It is part of a similar story of shortfalls across the country. According to a recent ANZ Housing Affordability Report, Australia is on track to build just 95,400 houses and 84,499 units in 2024.
Such numbers would make it the worst year for construction in a decade, and below the annual goal of 240,000 homes.