The government has decided to prioritise construction of lifts at either end of the bridge, the cost of which has blown out to about $15 million, from $10 million.

Mrs Pavey announced on Wednesday that construction of a lift at the bridge's southern end would be completed by October, and another at the northern end by the end of this year. The latter was originally due to be completed by late last year but had thrown up “more challenges” than expected.

“It has been a project that has grown in cost but it's a cost that's worth it – a cost that's going to ensure accessibility to all people across this bridge,” Mrs Pavey said.

The lifts will ensure the harbour bridge is accessible for those in wheelchairs, the elderly and parents with prams, allowing them to avoid more than 60 steps at either end. About 3000 people walk over the bridge each day.

“It's long overdue and we're hopeful that the southern section will be open in time for the Invictus Games [in October], weather permitting,” she said. “We need to ensure it's a bridge that's going to serve all sections of the community.”

North Sydney mayor Jilly Gibson said the lifts would encourage more people to cross the bridge, providing a boost to small businesses at Kirribilli. “I first started lobbying for this about 15 years ago ... and I'm glad the plan has been resurrected,” she said.

But Cr Gibson said there was major opposition from Milsons Point residents to plans unveiled in late 2016 by then roads minister Duncan Gay for a 200-metre ramp for cyclists at the northern end of the bridge.

“They are extremely concerned about impacts on Bradfield Park,” she said. “They don't want an overhead structure coming through the park. And it would interrupt the beautiful vistas of the harbour bridge and we we would lose trees.”

Cr Gibson said residents preferred construction of a lift for cyclists.

But advocacy group Bicycle Network said a lift for cyclists was a ridiculous idea given the large number of people who rode over the bridge each day.

“It’s extremely disappointing that progress on Sydney Harbour Bridge ramp – a vital link in Sydney’s bike network – has come to a crawl as slow as the traffic that crosses it each day,” a spokeswoman said.