The homes were not built over the past 20 years chiefly due to costly zoning, planning and building red tape imposed by councils, according to new research by a former RBA economist.
Australia could have built an extra 1.3 million homes over the past 20 years, but costly zoning, planning and building red tape imposed by local councils is chiefly to blame for a huge housing undersupply, according to analysis by former Reserve Bank of Australia economist Tony Richards.to kickstart a series on housing supply, Dr Richards said building more medium-density homes may require taking powers off local councils to stop caving in to “NIMBY” agitators.
The slower building of homes implies a 20-year shortfall of 383,107 homes in NSW, 352,292 in Queensland, 282,694 in Victoria, 160,397 in Western Australia, 102,321 in South Australia, 34,146 in Tasmania, 14,385 in Canberra and 8504 in the Northern Territory.
“My concern is the intergenerational economic time bomb and future generations won’t be able to afford a home,” said Mr Pradolin, a former property developer now campaigning to fix the chronic shortage of affordable housing for those on low incomes. finds that a 1 per cent increase in the national housing stock reduces the cost of housing by about 2.5 per cent.developing a proposal for national cabinet to increase housing supply and affordabilityAustralian Local Government Association president Linda Scott said the nation’s 537 councils had an obligation to plan for the most livable areas for “existing” and “future” residents.
Moreover, local home builder zoning maps confined “large swaths” of land for single-family homes and there was “much less land zoned for medium-density”, he said. “So when you see a somewhat run-down house and garden in a well-located area that is close to transport, it is likely that it has been secured by a developer who is working on getting a rezoning and then a development approval.”
“The upshot of the current arrangements is that the important tasks of home building and modernising our cities have become heavily reliant on individuals and firms whose main skill is navigating the development approval process and influencing local and state government officials to try to ease constraints on what can be built.”Ms Scott rejected calls for state governments to take over more powers from councils.
Ms Scott blamed “property developers shelving projects because of soaring costs and lacklustre property prices”.showing a 30 per cent surge in residential construction costs over the past two years had prompted developers to shelve projects.
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