NSW guarantee backs 39 apartments across Moorebank, Kingsford projects

The NSW Department of Planning, Housing and Infrastructure said on 16 October 2026 that its Pre-sale Finance Guarantee has committed to two more apartment projects: a 58-apartment scheme on Harvey Avenue in Moorebank from UFN Developments, valued at $44.5 million, and a 21-apartment scheme on Strachan Street in Kingsford from Advent Property Group, valued at $32.4 million. The guarantee underwrites 29 of the Moorebank apartments and 10 of the Kingsford apartments.

For developers chasing construction finance on small and mid-size sites, the practical point is the mechanism rather than the postcode. A project no longer needs a private buyer under contract before a lender will release funds, provided the state is willing to stand behind the presale itself.

Why it matters

The Pre-sale Finance Guarantee lets the NSW Government commit to buy up to 75 per cent of off-the-plan homes in an approved project, standing in for the private presales that lenders usually require before releasing construction finance. The guarantee is capped at $50 million per project and is funded through a $1 billion revolving pool committed over five years, according to the department’s release.

Moorebank and Kingsford are the latest additions. UFN Developments’ Harvey Avenue project and Advent Property Group’s Strachan Street project both sit in established middle-ring Sydney suburbs, the kind of location where smaller apartment buildings have struggled to clear the presale hurdle even with an approved development application in hand.

Minister for Planning and Public Spaces Paul Scully said the program “is getting more homes built sooner.” The release does not explain how the two projects were chosen ahead of others seeking the guarantee, or whether UFN Developments and Advent Property Group applied directly or through a financier.

Affordable housing is being tackled through more than one lever in Sydney this week. Urban Property Group’s six-tower Water’s Edge proposal at Concord West is seeking at least 3 per cent affordable housing in perpetuity through the Housing Delivery Authority pathway, a density-and-rezoning route that is a different instrument again from the presale guarantee UFN Developments and Advent Property Group are using.

The numbers

The department’s release puts the Pre-sale Finance Guarantee’s cumulative total at nearly 1,300 new homes accelerated since launch, without stating how many projects that spans or when the program began. For the two newest additions, the figures are specific: UFN Developments’ Moorebank project is 58 apartments, with the guarantee supporting 29 of them, and Advent Property Group’s Kingsford project is 21 apartments, with the guarantee supporting 10.

The release states the Kingsford project includes four affordable dwellings. For Moorebank it gives 31 affordable homes across the project, two of them within the 29 guaranteed apartments. The two projects together total 79 dwellings, including 35 affordable homes, which matches 31 plus four.

Neither the release nor the department’s program page states the dollar value of the guarantee extended to either project individually. Only the $50 million per-project cap and the $1 billion program-wide fund are disclosed.

What’s next

The release does not set a completion date for either building, and no development application number is given for either site, so the consent status of both projects sits outside what this record confirms. UFN Developments and Advent Property Group are named only against their project address and apartment count.

The next test for the program is whether the department publishes a project-by-project breakdown of the “nearly 1,300” homes figure, which would let developers and financiers compare the guarantee’s real uptake against its headline fund size. Until that breakdown exists, the program’s reach can only be measured in aggregate.