PM Defence sites to be sold by federal government
Feb 4, 2026
Kathleen O'Connor, economics reporter unpacking the Reserve Bank rate rise and impacts on buyers and renters. Angus Randall, journalist on the federal plan to sell nearly 70 Defence sites for reinvestment. They discuss defence land sales, heritage and public access debates, and housing potential from former munitions sites. Short, sharp coverage of finance and property policy shifts.
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Large-Scale Defence Land Divestment
- The federal government will sell up to 67 Defence sites to free up capital for reinvestment into Defence capabilities.
- Many properties were unused, costing maintenance and vandalism expenses that reduce defence efficiency.
Unused Assets Are Costly
- Defence audited its estate and found assets sitting unused, incurring maintenance and security costs like on Spectacle Island and Penrith Training Depot.
- After sale costs, Defence expects to net about $1.8 billion to be reinvested in the department.
Heritage Sites And Public Access
- Several sites have strong heritage value and predate Federation, which complicates future use but could increase public access if sold.
- Richard Miles framed the sales as returning heritage to the Australian people rather than as a housing-first move.