Sydney housing supply to rise with govt sales

Government Property NSW is managing the sale of three vacant residential sites on the north shore on behalf of government agencies.

The sites are a high-density residential development site in Lane Cove North; a medium-density residential development site in Willoughby; and seven lots in Wahroonga that will be sold in one line.

Proceeds from these sales will be reinvested back into government agencies.

Government Property NSW chief executive Brett Newman said the government was selling the land because it wanted to reduce its non-essential assets.

The vacant sites are being marketed for sale by Knight Frank and will go to auction on 5 November.