Australian property investment would be boosted by a re-examination of the country's planning system and a revamp of development assessment systems, according to research conducted by the Property Council of Australia (PCA) and the Residential Development Council (RDC).
The RDC/Property Council Development Assessment Report Card 2012 found that despite some measures being taken to improve property development in the country, further steps must be taken in order to ensure the development of an equitable and efficient process.
Caryn Kakas, RDC executive director, said; "Innovative reform initiatives can reduce compliance burdens and deliver more flexible regulatory systems."
This damning assessment was echoed by the PCA chief executive officer Peter Verwer, who claimed: "Australia's planning systems remain disparate, disjointed and dysfunctional."
He added that attempting to streamline these systems would boost the overall economy by encouraging investors to get involved with the property industry.
The PCA recently criticised a lack of accountability in Hunter's housing strategy.
Posted by Steve Douglas
