Research Released: Big Upside to Quick Planning Wins
Property Council NSW recently released research (conducted by Urbis) which shows that ‘quick wins’ can be achieved by making changes to planning system such as relooking at the process for re-zonings, delivering diverse housing more easily and calculating development contributions can benefit the State economy, drive down the cost of homes and create jobs.
Some of the research key findings include:
1. By calculating contributions and getting better oversight of their impact – $194m increase in GSP per year and 1,310 additional jobs
2. By improving the process for re-zonings – $2.37 b uplift in GSP per year and 16,701 additional jobs
3. By implementing complying development including the medium density housing code – $213m in GSP uplift and 1,450 additional jobs
4. By finalising our state planning strategies – $3.96b uplift in GSP, 26,800 additional jobs, and increased labour productivity contributing $95 million each year
5. By incorporating technology into our planning system – $17m in GSP uplift each year and cut assessment timeframes by up to 1 week per dwelling
Read more on the research here.