Commentary
Housing supply, planning, tax and feasibility — analysis written by Max and republished from LinkedIn.
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Housing supplyYIMBY Melbourne makes a good observation about how much harder it is get an approval for a…
I also note that projects at this scale tend to cost more per dwelling to construct than a larger one (to a point, so can be harder to stack up) .
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There we have it – 3,614 total housing approvals across Victoria for June 2024. An annualised rate of 43,368, before you include the 10-20% of approvals that never get built.
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The announcement focuses on creating more certainty around cultural heritage matters and Melbourne Water – two potential blockers for development around Victoria.
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This constant refrain from Victorian Government spokespeople comes whenever questioned about the challenges facing new housing development in the State.
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My advice at the time: “We won’t reach 1 million new homes, let alone 1.2 million”.
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Instead of seeing the benefit of purposed planning reforms and systemic fixes, both completions and commencements are well down from their peaks.
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(The nature of our business means we do not have any direct involvement with the CFMEU. Our subcontractors tend to be represented by other unions which are less militant.
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The above paraphrases several conversations I’ve had with people in government and is an insight into the defensive spin being spread in those circles.
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When it comes to residential development, the terms “feasible” and “affordable” are often used, but what do they really mean and how do they differ?
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Feasible Fundable Serviced/serviceable Meet the needs of the market Many interventions are needed to create conditions where the development industry can effectively start tackling the problem.