Commentary
Housing supply, planning, tax and feasibility — analysis written by Max and republished from LinkedIn.
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Jordan Curran observed in an earlier post that enquiry data shows increased demand for 3-bedroom units. How does this reconcile with the need for more family-sized apartments and affordability?
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“A household in which one partner earns the average income and the other works half the week could borrow enough money to buy a home worth $756,250… That assumes they save a 20 per cent deposit plus transaction costs.
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Everyone loves things to be better. Materials, efficiency, open space, amenity.
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Perhaps obvious, but creating larger buildings is more complicated, time consuming & expensive than domestic “sticks and bricks”.
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The old adage⏲time = moneyis particularly pertinent when it comes to project feasibility. The planning system is lengthy, complex and uncertain, leading to significant delays and increased expense.
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Sounds good in theory, so why doesn’t this happen more in practice? This Domain article illustrates the disconnect between “policy” and “reality”. It boils down to simple housing economics.
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I’ll repeat my statement: “Golf courses represent an incredible opportunity in the midst of a housing crisis to develop affordable housing in typically quite established parts of Melbourne…
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“They (golf courses) are ripe for development and could be unlocked very quickly, which is what you need in a housing crisis — it just needs a bit of political will,” Mr Shifman…
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UDIA Victoria is open to working with Government to improve the broader developer contribution landscape and create efficiencies where possible.
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Col Dutton was quoted saying “The UDIA State of the Land 2024 report provides insightful evidence that Government needs to focus policy on boosting development ready land supply.