NSW Government $9b asset-sales agenda laid bare in budget estimates hearing

The New South Wales Government has sold off more than 20,000 properties including schools and public housing dwellings since it came into office in 2011, raking in more than $9.1 billion.

The figures were confirmed during a budget estimates hearing, where Finance Minister Victor Dominello was forced to defend the extent of the asset sales.

“It’s in the context of $142 billion worth of assets that we’ve got,” Mr Dominello said.

The hearing was told there was another $1 billion of property sales “in the pipeline”.

Upper House Labor MP Daniel Mookhey said the government was approaching a situation where 10 per cent of its asset base would be sold off.

Social Housing properties were among the biggest sellers.

Chief Executive of Property NSW Brett Newman said the Department of Family and Community Services had put more than 4,000 social housing dwellings under the hammer.

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