Landcom, previously known as the Land Commission of New South Wales, is a corporation

Corporation

A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...

 in Australia

Australia

Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

 owned by the Government of New South Wales

Government of New South Wales

The form of the Government of New South Wales is prescribed in its Constitution, which dates from 1856, although it has been amended many times since then...

 under Lloyd Warwick.

Landcom was established in 1975 following an election promise by Neville Wran

Neville Wran

Neville Kenneth Wran, AC, CNZM, QC was the Premier of New South Wales from 1976 until 1986. He was National President of the Australian Labor Party from 1980 to 1986 and Chairman of both the Lionel Murphy Foundation and the Commonwealth Scientific and Industrial Research Organisation from 1986...

 for a government agency to be established to provide affordable, fully serviced land on the fringe of Sydney for purchase. Landcom has played a leading role in the development of outer suburban areas of Sydney such as Campbelltown

Campbelltown, New South Wales

Campbelltown is a suburb in south-western Sydney, in the state of New South Wales, Australia. Campbelltown is located 51 kilometres south-west of the Sydney central business district and is the administrative centre for the local government area of the City of Campbelltown.- History :Campbelltown...

 and Penrith

Penrith, New South Wales

Penrith is a suburb in western Sydney, in the state of New South Wales, Australia. Penrith is located west of the Sydney central business district and is the administrative centre for the local government area of the City of Penrith...

 since the late 1970s.

While the objective of Landcom was originally to enable the purchase of homes for those who would not otherwise be able to afford it, the objectives of the organisation has changed and it now operates according to market principles.

Landcom was corporatised in 2002 and now operates in much the same way as a private property developer on a for-profit basis. Landcom now also sells land in inner city areas, although its operations remain confined within New South Wales

New South Wales

New South Wales is a state of :Australia, located in the east of the country. It is bordered by Queensland, Victoria and South Australia to the north, south and west respectively. To the east, the state is bordered by the Tasman Sea, which forms part of the Pacific Ocean. New South Wales...

. Landcom now also takes part in joint ventures with private property developers.