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NSW property will be cheaper to...

NSW property will be cheaper to build

Property development in New South Wales is going to get easier following reforms.
<p $$hash="7172-0"><span $$hash="7173-0">Building property in New South Wales (NSW) should become cheaper following government reforms.

<p $$hash="7147-0"><span $$hash="7146-0">Under an overhaul to the planning regulations within the state, around 80 per cent of proposals for housing developments will be fast-tracked. For most planning proposals, whether or not they will go ahead will be decided within 25 days.

<p $$hash="7141-0"><span $$hash="7145-0">This is hoped to save $174 million per year for businesses and families.

<p $$hash="7144-0"><span $$hash="7143-0">Planning minister Brad Hazzard quashed critics’ concerns that developers will take prominence over the voice of the locals when he said: "The community will be able to own this planning system, they will own what happens in their local area."

<p $$hash="7171-0"><span $$hash="7170-0">At the same time, the most recent statistics on building approvals show that they have gone up across Australia by 3.1 per cent.

<p $$hash="7169-0"><span $$hash="7168-0">It is thought that part of the reason for this is due to increased consumer confidence and activity within the property market.

<p $$hash="7166-0"><span $$hash="7167-0">Posted by Ravin Chatlani

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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