The benefits for the housing market of reforming local development contributions have been highlighted.
The reform of local development contributions is a positive step for the Australian property market in New South Wales (NSW), it has been said.
Next week's state budget will see the plans outlined, the Property Council of Australia stated, including a cap of AUS$20,000 (£12,000).
This will "help cut the upfront cost of bringing new homes to market," said NSW acting executive director Glenn Byres.
"The package will help drive housing supply, introduce greater cost certainty for home building companies and encourage financial discipline among councils."
He also welcomed the proposed role for IPART, the independent body that oversees regulation of the water, gas, electricity and public transport industries, in assessing and approving local contributions plans, saying this will add transparency and rigour to funding and delivery of local infrastructure.
Furthermore, the establishment of a Land Supply and Housing Taskforce demonstrates that the government understands the need to address the Australian housing shortfall in the state, Mr Byres added.
Posted by Steve Douglas
The reform of local development contributions is a positive step for the Australian property market in New South Wales (NSW), it has been said.
Next week's state budget will see the plans outlined, the Property Council of Australia stated, including a cap of AUS$20,000 (£12,000).
This will "help cut the upfront cost of bringing new homes to market," said NSW acting executive director Glenn Byres.
"The package will help drive housing supply, introduce greater cost certainty for home building companies and encourage financial discipline among councils."
He also welcomed the proposed role for IPART, the independent body that oversees regulation of the water, gas, electricity and public transport industries, in assessing and approving local contributions plans, saying this will add transparency and rigour to funding and delivery of local infrastructure.
Furthermore, the establishment of a Land Supply and Housing Taskforce demonstrates that the government understands the need to address the Australian housing shortfall in the state, Mr Byres added.
Posted by Steve Douglas
