Millers Point heritage social housing sales will raise more than $100 million by the end of the year with the proceeds directly funding hundreds of new homes to help vulnerable people waiting for social housing, Minister for Social Housing Brad Hazzard said today.

“We’re building a new era of social housing homes for NSW while preserving the historic significance of the Millers Point area, with construction being completed next week in Smithfield on the 100th new social housing unit from sales proceeds,” Mr Hazzard said.

So far, 39 properties have been sold in Millers Point and the Rocks. Proceeds are expected to raise $500 million, which is being used to build more than 1,500 new social housing dwellings in Sydney and regional NSW.

Nearly 75 per cent of the social housing tenants in Millers Point have successfully relocated, many moving to inner city suburbs including Glebe and Pyrmont.

“The NSW Government recognises that it can be daunting for some residents to move out of Millers Point and away from their local support network,” Mr Hazzard said.

“The Government has the overwhelming pressure of 60,000 people waiting for public housing. By freeing up the assets in Millers Point we are seeing four to five new residences built for every heritage house sold.

“There’s no perfect answer here but the Government is determined to try and house as many people waiting for social housing as possible.”

Mr Hazzard said he had been working with Millers Point community representatives and the Government would defer the sales of a small number of non-heritage-listed, “modern infill” units in Millers Point while proceeding full steam ahead with selling the heritage properties.

“We are initiating a process to allow some tenants to stay in the area – though not in the property they are in now.

“The Government thanks the Millers Point residents group for ensuring that the concerns of those tenants that need particular assistance are considered and responded to in this process.”