The $1b scheme that could trigger a Sydney apartment building boom

Thousands of new homes across NSW could be delivered faster under a new program designed to help developers get building. 

The NSW government has launched its Pre‑Sale Finance Guarantee program, with developers now invited to submit expressions of interest.  

From Monday, 22 September, eligible applicants can apply for the program, which allows the state to commit to buying off‑the‑plan homes in approved residential projects. The aim is to help developers secure the finance needed to start construction sooner. 

Developers can now submit expressions of interest for the Pre‑Sale Finance Guarantee program. Picture: Getty

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First announced in June 2025, the five‑year program allows the government to commit to buying up to 50% of homes off the plan in approved projects. Eligible homes can be valued at up to $2 million each, with support ranging from $5 million to $50 million per project. 

The government said up to $1 billion in pre‑sales will be committed over the life of the scheme through a revolving fund. 

As the homes are sold and projects are completed, builders will have two options: 

• Rescind the commitments, release the funds and allow the program to support more projects, or 

• Call on the program, where the homes are purchased by the NSW government at a discounted rate and then either rented or sold into the market. 

Meeting pre‑sale requirements is one of the most common challenges in securing finance for residential projects, according to industry bodies. 

Property Council NSW executive director Katie Stevenson called it a “significant barrier” holding projects back. 

“Our research with Savills confirmed that developers with approvals, demand and delivery partners simply couldn’t get projects off the ground because pre‑sale hurdles were unworkable,” Ms Stevenson said. 

“This Pre‑Sale Finance Guarantee helps to tackle that challenge head‑on.” 

The government said the program will reduce risk in the residential construction finance sector and shorten the time between approval and construction. 

The state’s scheme aims to get new apartments built faster. Picture: Getty

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NSW minister for planning and public spaces Paul Scully called it a “game changer” that will offer greater certainty for the industry. 

“We have more than 13,000 homes sitting there approved but construction has not commenced. This is a bad outcome for our housing delivery, our economy and our communities,” Mr Scully said. 

“We’re checking capacity, credibility and capability, we want good quality homes from reputable builders, and we want them soon.” 

As part of the program, the NSW building commissioner will help assess applications to ensure the scheme is supporting applicants that meet capability, credibility and capacity benchmarks. 

Developers can now submit an expression of interest through the NSW government website. Applicants with planning and indicative or binding finance approvals, and who are ready to build within six months, will be initially assessed for eligibility. 

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