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Beyond The Verge Lunch launches second round of planning reforms

  • May 31, 2021

Beyond the Verge Lunch launches second round of planning reforms

With population growth at the highest rate in six years, and rental market occupancy experiencing record lows, the Property Council’s ‘Beyond the Verge’ lunch provided an opportune insight into the industry’s expectations of what the future holds for the residential property market in Western Australia.

Planning Minister Rita Saffioti announced a second phase of planning reform proposals which are now open for consultation. The proposed reforms are expected to streamline approval processes, and achieve consistency across the state and local governments. Potential reforms include providing a centralised process for development contributions, clarifying the function of local planning policies and refining engagement procedures to improve community consultation in planning proposals. Implementing these reforms will be essential to sustaining growth in the property market beyond 2021.

In taking questions from the floor, Ms Saffioti was asked about an extension to the off-the-plan stamp duty concessions. As a matter outside of the Planning portfolio, the Minister was not able to provide any insights on this policy, however Property Council Executive Director, Sandra Brewer, stated that “an extension of the concession is a key item in the 2021 Pre-Budget Submission”.

More information on the second round of planning reforms can be found here.

An expert panel discussion followed, featuring REIWA President and Momentum Wealth’s Damian Collins, David Cresp from Urbis and Anna Ladyman from DevelopmentWA, providing insights into the different sectors’ experiences in the property market over the past year, and their prospects and priorities for the future.

The panel remained optimistic about growth and expect an influx of overseas migration into WA when our borders eventually open, which will contribute to a sustainable population growth. The planning reforms are therefore essential to enable the timely delivery of exceptional places to accommodate this population growth. The places we provide must be supported by adequate community facilities and infrastructure to make people want to stay and sustain a continued growth in WA.