2021-22 Federal Budget Impacts

Diversi Engineering 2021-22 federal Budget property impacts

Like many of us, we watched the Federal 2021-22 Budget announcement on 11 March with great interest to see how this may impact us and help us grow out of this pandemic.

So, we have summarised of some of the key commitments that we believe will affect the Infrastructure, Urban Development and Property sectors:

1. Building Australia

a) Delivery of $110billion over 10 years and investing in the future.
b) Key projects for NSW and Sydney include:
  • Total of $43.5b funding since 2013.
  • Major projects underway include:
    • Sydney Metro Western Sydney Airport ($5.3b)
    • M12 Motorway ($1.6b)
    • M1 Pacific Highway extension to Raymond Terrace ($1.6b)
    • WestConnex ($1.5b)
  • Additional $3b towards infrastructure projects
  • Additional projects/funding include:
    • Great Western Highway upgrade Katoomba to Lithgow ($2b)
    • M12 Motorway (+$229m)
    • M5 Motorway Moorebank Avenue intersection ($87.5m)
    • Princess Highway Corridor Jervis Bay ($500m)
    • Various road safety projects ($270m)
    • Manns Road intersection upgrades ($52.8m)
    • Mount Ousley interchange ($240m) and
    • Local road and community infrastructure projects ($278.5m).


2. Housing

The Home Builder scheme
  • will be revised to allow the construction commencement period to be extended to 18 months so as to smooth out the construction pipeline
New Home Guarantee
  • Will be temporarily expanding the scheme to release a further 10,000 new home guarantees in 2021-22 which will help fuel demand and construction jobs
  • The scheme will enable new home buyers to enter the market sooner with as little as 5% deposit
  • Single parents will also be able to buy a home with as little as a 2% deposit!
First Home Super Saver Scheme
  • The Scheme will be expanded to eligible first home buyers to enable them to release up to $50,000 from Superannuation to bolster their deposit.

In Summary

It is therefore likely these budget initiatives will continue to grow NSW and Sydney. In particular this will help Western Sydney and the new airport fuelling investment in both housing and businesses.

It is great to see the Federal Government spending in these areas and on these schemes. Hopefully now the NSW State government will align their priorities and budget as well as providing rezoning of land in the targeted areas to enable supply to catch up with what I expect will be a significant demand for housing and building construction over the next few years.

Take the next step

If you would like to discuss how the budget impacts your Urban Development, Property or infrastructure project or if you are looking for creative engineering solutions, we’d love to help. Just call us on (02) 8883 1113 or complete the contact form and we will call you back to arrange a suitable time.