Welcome news: Developers won't wear NBN costs
Some very welcome news last week with confirmation that new developments will not be hit with up to $4000 extra per dwelling for the installation of the national broadband network.
Communications Minister Malcolm Turnbull has said he will overrule the recommendation of his own review panel that developers should pay for the NBN installation and connection costs in new developments.
The report of the Vertigan review was released last Thursday and the minister moved quickly to acknowledge the industry’s concerns and publicly state that these new costs would not be passed on.
Home buyers already pay roughly $80,000 in Sydney, $60,000 in Melbourne and $50,000 in Brisbane for infrastructure to be delivered to an average priced housing lot.
Our Residential Development Council has been in discussion with Minister Turnbull’s office for weeks on the issue and we welcome this sensible approach.