Biodiversity respite for Hunter region
Key transitionary arrangements for the Biodiversity Conservation Regulation (2017) have been extended by a further six months in key regions across NSW.
The extension is particularly important for areas in the Hunter region where the biodiversity regulations have the capacity to add significantly to the cost of building a home, increasing house prices for local home buyers.
“This is good news for the industry and the community because it means we have more time to get this regulation right and avoid adding significant cost pressure to local homes,” Property Council NSW Executive Director Jane Fitzgerald said today.
“The Property Council advocated strongly to extend the transitional arrangements so that
home builders have cost certainty and do not have unknown costs lumped onto projects.”
“With the increased development we are seeing across the state, it is important that the environment is preserved; yet to do this we need a system that is well designed and does not have unintended consequences; we now have time to work with the Government to get this right.
“The Hunter region in particular is facing a housing affordability challenge due to its proximity to Sydney and we need to avoid introducing policy or regulation that adds to the prices of homes in the region.
“Cost impacts of the new reforms are still unclear, yet preliminary work conducted by the Property Council indicates that up to $20,000 could be added to the cost of every new home in specific regions subject to the scheme.
“We hope that with time we can design a set of biodiversity regulations that protects the
environment without adding to the cost of new homes.”
Media contact: William Power | M 0429 210 982 | E firstname.lastname@example.org