It should be easier to find and afford a home in NSW after the government splashed the cash to improve housing affordability and supply in the state budget.
In handing down the budget, Treasurer Dominic Perrottet committed NSW to spend more than $720 million over the next four years to help make owning a home a reality for more people as part of the government's $4.3 billion housing affordability package.
The package includes $14.4 million of new investment housing affordability over 2017/18, $12.5 million over the same period to cut the red tape and help accelerate major developments and $4.5 million to construct 30,000 new homes in Sydney's priority precincts in 2017/18.
"Our number one priority as a government is to get more houses built and to market to help make new homes more affordable," Housing Minister Anthony Roberts said in a statement.
These measures could help to cool the hot property market with about 75,000 new homes expected to be built within the next financial year, Mr Perrottet said.
The biggest sweetener - previously announced - is the scrapping of stamp duty for first home buyers on new and existing homes up to $650,000 and insurance duty on lenders' mortgage insurance.
Premier Gladys Berejiklian earlier this year hinted her housing affordability package could include a plan to tackle rental affordability in the state.
But there was no sign of such relief in Tuesday's budget.
Treasurer Dominic Perrottet instead pointed to the government's social housing affordability fund.
"We have $1.1 billion in that fund which will help with the delivery of over 2200 new affordable houses across NSW," he said.
The rental market is an important factor for would-be home-owners, Mr Perrottet acknowledged.
"The best thing we can do in that space is provide more housing," he said.
"Opening up supply across the state and investing in infrastructure to support those homes provides greater opportunity for young families to enter the housing market".
