The New South Wales government has opened Expressions of Interest (EOI) for its landmark Pre-sale Finance Guarantee (PFG) program, designed to accelerate housing delivery across the state by reducing risk in construction finance and unlocking thousands of homes currently stuck between approval and commencement.
From 22 September 2025, eligible developers can apply to have the NSW government commit to purchasing off-the-plan dwellings in approved residential projects.
The commitment is aimed at helping builders meet pre-sale requirements, one of the biggest hurdles in securing finance and getting projects out of planning and into delivery.
Treasurer Daniel Mookhey said: “This guarantee will give lenders greater confidence, reduce risk in the housing finance market and accelerate the delivery of new homes across NSW.
“This is about turning approvals into actual homes, supporting jobs, boosting housing supply and strengthening the state’s economy at the same time.”
Under the five-year program, the government will leverage up to $1 billion in pre-sales through a revolving fund, committing to buy as much as 50 per cent of homes off the plan in eligible projects.
Homes supported under the scheme can be valued up to $2 million each, with between $5 million and $50 million available per project.
Once construction is complete, builders will either rescind the commitments and free up funds for new projects or call on the Government Guarantee, with dwellings either rented out or released to the market for sale.
The program is a direct response to the challenges reflected in the NSW Productivity and Equality Commission’s review of housing supply, which highlighted delays in finance and unmet pre-sale requirements as a key barrier for developers.
In recent years, the time between project approval and commencement has grown by 39 per cent, while more than 13,000 dwellings sit approved but unbuilt across the state.
Minister for Planning and Public Spaces Paul Scully said: “This is a game-changer. This will bring forward the construction of homes, offer greater certainty for our building industry and reduce the level of risk in the financing sector.
“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.
“We’re checking capacity, credibility and capability. We want good quality homes from reputable builders, and we want them soon.”
The NSW Building Commissioner will play a key role in assessing applications, ensuring that only reputable developers and builders with proven track records can access the scheme.
This vetting process is designed to protect homebuyers and maintain confidence in the sector.
Minister for Building Anoulack Chanthivong stressed that oversight measures would remain strong.
“We established Building Commission NSW as a dedicated building regulator to restore confidence in the residential construction sector,” he said.
“As the Pre-sale Finance Guarantee supports delivering the homes our state desperately needs, the Building Commission NSW will be doing all it can to make sure those homes are well-built by trusted professionals.”
The EOI process is structured to bring forward viable projects that are ready to commence within six months.
Developers with planning approval and financing in place will undergo an initial assessment to test their eligibility against financial, technical and compliance benchmarks.
Those who meet the criteria will be considered for participation and access to PFG support.
Industry stakeholders have described the initiative as a crucial intervention in tackling the state’s housing supply shortfall.
Developers are now invited to submit an Expression of Interest to join the program.
Applications can be made via the Department of Planning’s website.
