NSW planning minister Paul Scully has revealed that the coming state budget will include an overhaul and expansion of the $1-billion Pre-Sale Finance Guarantee program, “guided by feedback from proponents, financiers, and community housing providers”.

New eligibility rules will allow projects as small as four homes to apply for the scheme, replacing the current $5-million floor.

A greater focus on affordable housing will allow the scheme to guarantee up to 100 per cent of developments under $30 million by not-for-profit community housing providers, while larger schemes can receive support up to $80 million, increased from the current $50 million.