2016 Residential wrap up

Housing affordability has once again been a big issue in 2017. The year kicked off with a new model for social and affordable housing to encourage the private sector to deliver housing projects over a period of up to 25 years. The State Government contributed $1.1 billion in cash reserves into a Social and Affordable Housing Investment Fund.  Planning Minister Rob Stokes followed this in March with a discussion paper on fast-tracking delivery of medium density housing under the state’s complying development assessment process.

In October, the Draft Medium Density Design Guide and explanation of intended effect for a Medium Density Housing Code were released and the Property Council will make a submission on behalf of members on December 12.

Strata title reforms were also concluded this year with over 90 changes to the laws that will affect the 75,000 strata schemes in NSW. They are the first major reforms in 20 years and make it for owners to complete cosmetic and minor renovations and provide a better mechanism for collective sale and renewal.

The Property Council continued its advocacy efforts opposing Sepp 65 exemption for the Hills Shire Council, housing affordability solutions that can be practically implemented and the government’s push for medium density and how this corresponds with the commercial viability of some projects.

In 2017, we will see a continued advocacy effort in these areas as well as a focus on the issue of inclusionary zoning as it is framed in the District Plans, the need to find a viable solution to housing affordability and the balance between residential and commercial development in Sydney’s growing suburbs. The housing targets outlined in the District Plans are also an area where the Property Council will be advocating for flexible policy development to ensure the industry can meet these targets.