Premier Chris Minns of NSW announced a new housing plan to rebalance growth in Sydney.

The plan includes increased housing targets in areas like Ku-ring-gai, Woollahra, North Sydney, and the Northern Beaches.

Focus is on infill housing closer to the eastern seaboard.

Goal is to build nearly 400,000 new homes in the next five years.

Councils will be incentivized to meet these housing targets.

Challenges such as construction costs and financing issues are hindering progress.

Premier highlighted the importance of essential worker and social housing in addressing the housing crisis.

Premier expressed optimism about overcoming challenges with the right plans and policies in place.