NSW Premier Chris Minns has announced a major rezoning plan along a stretch of Parramatta Road in Sydney's Inner West, delivering up to 8000 new homes and breathing life into a tired stretch of the city.

The effort is the latest to solve the two issues, with Sydney being the second least affordable city in the world to live in.

Speaking to media today, Minns admitted there was work to be done, but claimed his government was ready to meet the challenge and to give young people the chance to own homes close to the city.

"At the moment, we are so far behind," he said. "Many people may not know this but Sydney is the 800th densest city in the world.

"That doesn't mean we're going to turn it into Tokyo overnight, but there is a halfway house where we have appropriate developm

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