Affordable housing contributions form a condition of development consent.
Affordable housing may be provided in-kind or as a monetary contribution. The contribution total is calculated on the basis of the total floor area that would otherwise be required to be dedicated for affordable housing.
The contribution requirements effective as at 1 December 2021 are:
On-site: 3% of the total residential floor area must be provided as affordable housing.
Monetary: $345.88 per square metre of the total residential floor area.
On-site: 1% of the total non-residential floor area must be provided as affordable housing.
Monetary: $115.29 per square metre of the total non-residential floor area.
Contribution rates quoted in a development consent will be indexed to ensure they reflect the costs associated with providing affordable housing units over time. Contribution rates are adjusted on a quarterly basis, being the first days of March, June, September and December, Rates are adjusted with reference to movements in the median price for strata dwellings in the City of Sydney LGA. The median strata dwelling price is published quarterly in the NSW Government Rent and Sales Report, Table: Sales Price – Greater Metropolitan Region – Strata. The Rent and Sales Report is available on the NSW Government, Family and Community Services website.