Increasing the affordability of Sydney property through revised planning

30.8.13Sydney property has always been incredibly sought after. The vibrant, bustling New South Wales cultural hub is a popular destination for everyone – whether you’re a local looking for a change of scenery, or a tourist searching for the adventure of a lifetime.

The latest proposal from the NSW government is to change the rules surrounding regulation planning, which would allow for smaller lot sizes, townhouses and studios to be built  in the city in order to cope with the expected population increase heading into the future.

Chief executive of Urban Taskforce Chris Johnson has also stated that the planning changes will help to increase housing affordability, which could benefit everyone from first home buyers to seasoned property investors.

“Sydney’s housing has a reputation of being among the most expensive in the world and it is essential that the cost of a new home is lowered,” said Mr Johnson in an August 29 statement.

“The NSW Government proposal to reduce minimum lot sizes down to 225 square metres and even down to 125 square metres in certain locations will provide flexibility for the market to provide smaller and more affordable houses.”

He went on to state that the Dwelling Density Guides released by the local government have a lot of great examples of successful, functional smaller home designs.

“Good design can mean that smaller houses can work well for home owners particularly through open planning and careful design of furniture. A broader State Environmental Planning Policy could support smaller lot sizes for all new greenfield housing areas across the state,” said Mr Johnson.

“The planning rules need to continue to encourage innovation from the private sector in the provision of affordable housing and ensure fast approvals to further reduce costs.”

These changes, if implemented, could help to facilitate the NSW capital city’s growth heading into the future, and provide affordable options for anyone entering the state’s property market.

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