The Five Property Game-Changes for New WA Government
The Property Council has called on the new state Government in Western Australia to use its significant electoral mandate to achieve much-needed advances in the property industry.
“The change of government could be just the thing to get more traction on some big game-changes in the property industry”, said Lino Iacomella, Property Council WA Executive Director.
“There are five major game-changes in the property industry available to the new McGowan Government:
- Make Metronet the catalyst for achieving greater housing density around stations;
- Use innovations in infrastructure funding to incentivise development;
- Modernise industry regulations like strata titles and building licensing;
- Start a fresh engagement with local governments to deliver planning consistency; and
- Conduct a review of state taxes with industry to achieve a more equitable tax system.
“The Government’s Metronet rail plan to create more cross-city rail connections, is a great opportunity to achieve the sorts of higher density housing around suburban hubs that are proving difficult to achieve.
“The property industry is open to discussions about innovations in funding infrastructure, particularly if the outcomes incentivise development. This can be achieved by combining clearer planning and building approval pathways with infrastructure funding mechanisms.
“There is a raft of innovations in industry regulations that the industry desperately needs, including strata title reform, particularly the introduction of community titles, and permitting licensed building certifiers to issue building permits.
“The election of the McGowan Government would be an ideal occasion to re-start an engagement with the local government sector about achieving uniform local government planning systems.
“The last time there was a genuine review of state taxes was 15 years ago, during the previous state Labor Government. This resulted in many reforms, including the elimination of smaller nuisance taxes.
Now it’s time to review the big taxes like stamp duty and land tax, which have become major drags on the ability of the property sector to participate in economic re-generation in WA.
“The property industry in WA is very keen to start a fresh dialogue with the state Government to achieve the major reforms needed to keep WA growing”, said Mr Iacomella.