The NSW Government is accelerating housing delivery across Sydney through its $1 billion Pre-sale Finance Guarantee, with new developments in Pyrmont and Westmead set to move ahead sooner.
The initiative is designed to unlock stalled projects by reducing financial risk for developers, helping them secure funding and begin construction earlier. As part of the latest rollout, around 300 new homes will be fast-tracked across key growth areas.
In Pyrmont, the $900 million Pyrmont Place development will deliver a major mixed-use precinct, contributing to the broader Blackwattle Bay renewal vision. Meanwhile, in Westmead, the Elodie project will bring new housing – including affordable homes – alongside childcare facilities close to the Parramatta CBD.
The program works by allowing the government to guarantee up to 50 per cent of apartment pre-sales, giving lenders confidence and enabling projects to move forward. This support can range between $5 million and $50 million per development, depending on the scale and need.
Since launching in October, the scheme has gained strong industry interest, with 45 expressions of interest already submitted. To date, more than 540 homes have been accelerated, with additional projects under assessment that could unlock even more housing supply across New South Wales.
The initiative is part of a broader strategy to address the housing crisis, alongside planning reforms, rezoning efforts and new housing design frameworks. The goal is to increase supply while supporting affordability and sustainable urban growth.
NSW Treasurer Daniel Mookhey emphasised that the program is aimed at easing both housing shortages and cost-of-living pressures, noting that increasing supply is critical to improving affordability for families.
Planning Minister Paul Scully added that the guarantee is helping remove key barriers in the construction pipeline, allowing projects that may have otherwise been delayed to move forward with certainty.
Industry leaders have also welcomed the initiative, highlighting how it provides confidence to developers and supports the delivery of well-located housing in high-demand areas such as Pyrmont and Westmead.
With up to $1 billion in guarantees set to be deployed over the next five years, the program is expected to play a key role in boosting housing supply, creating jobs and shaping the future of urban living across Sydney.
