Median lot prices in Melbourne's seven growth corridors hit $346,000 in February, up 39 per cent in a year despite a record 24,000 lots, as under-resourced councils and a sub-contractor shortage constrict supply. Intrapac's Max Shifman said permits took 12 to 18 months and three years after rezoning.
As I told the Australian Financial Review: “The state government has tried to do the right thing to increase supply through the approval of precinct structure plans [the masterplans for new suburbs], but it's on the delivery side, after the PSP has been approved, that's problematic”
I also said: “You're now waiting two to three years before you can turn soil.”
And I added: “There are no performance standards for councils. It can often take 12 to 18 months just to get a permit. It's quite extraordinary”
I went on to say: “No performance standards for councils.”
I also made the point: “Everything has to happen in sequence and it all requires council approval”
And finally: “I'm told the building of Melbourne Metro will take something like 25 per cent of the city's concrete sub-contractors so we need to train more people to do these roles”
Australian Financial Review, 26 April 2018 — Read the full article