Gadens’ Post

An interesting debate about housing supply vs property rights unfolding in the City of Port Phillip. The Age reporting on several cases where older blocks of flats are being consolidated and demolished, to be replaced with a single house or fewer dwellings than before. It's an interesting policy discussion, with me remaining on the side of not prohibiting consolidation or enforcing the retention of minimum dwelling numbers where someone is able to afford the site. Others have a different view: "Patrick Fensham, 𝘱𝘳𝘦𝘴𝘪𝘥𝘦𝘯𝘵 𝘰𝘧 𝘵𝘩𝘦 Planning Institute of Australia’𝘴 𝘝𝘪𝘤𝘵𝘰𝘳𝘪𝘢𝘯 𝘥𝘪𝘷𝘪𝘴𝘪𝘰𝘯, 𝘴𝘢𝘪𝘥 𝘵𝘩𝘦 𝘱𝘳𝘰𝘣𝘭𝘦𝘮 𝘰𝘧 𝘴𝘦𝘷𝘦𝘳𝘢𝘭 𝘥𝘸𝘦𝘭𝘭𝘪𝘯𝘨𝘴 𝘣𝘦𝘪𝘯𝘨 𝘣𝘶𝘭𝘭𝘥𝘰𝘻𝘦𝘥 𝘧𝘰𝘳 𝘢 𝘴𝘪𝘯𝘨𝘭𝘦 𝘩𝘰𝘶𝘴𝘦 𝘤𝘰𝘶𝘭𝘥 𝘣𝘦 𝘴𝘰𝘭𝘷𝘦𝘥 𝘣𝘺 𝘱𝘳𝘰𝘩𝘪𝘣𝘪𝘵𝘪𝘯𝘨 𝘢 𝘱𝘭𝘢𝘯𝘯𝘪𝘯𝘨 𝘢𝘱𝘱𝘭𝘪𝘤𝘢𝘵𝘪𝘰𝘯 𝘧𝘳𝘰𝘮 𝘳𝘦𝘴𝘶𝘭𝘵𝘪𝘯𝘨 𝘪𝘯 𝘢 𝘭𝘰𝘴𝘴 𝘰𝘧 𝘩𝘰𝘮𝘦𝘴." What these cases also reveal is a phenomenon which will impact the supply of smaller-scale #development for some time yet. In short, higher multi-dwelling development costs are resulting in the underlying land value for many smaller sites being higher as a single residential dwelling than the the value a developer will pay. This means sites otherwise zoned for potentially incremental development, particularly in NRZ and GRZ, will in many cases remain or be redeveloped into single dwellings. 🤔𝗜 𝗰𝗮𝗻 𝘀𝗲𝗲 𝗱𝘆𝗻𝗮𝗺𝗶𝗰 𝘁𝗵𝗶𝘀 𝗮𝗹𝘀𝗼 𝗶𝗺𝗽𝗮𝗰𝘁𝗶𝗻𝗴 𝘀𝗼𝗺𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗮𝗰𝘁𝗶𝘃𝗶𝘁𝘆 𝗰𝗲𝗻𝘁𝗿𝗲𝘀 𝗮𝗻𝗱 𝗦𝗥𝗟 𝘀𝘁𝗮𝘁𝗶𝗼𝗻𝘀, 𝗽𝗮𝗿𝘁𝗶𝗰𝘂𝗹𝗮𝗿𝗹𝘆 𝗮𝘀 𝘁𝗵𝗲𝗿𝗲 𝗶𝘀 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗶𝗻𝗴 𝗶𝗺𝗽𝗼𝘀𝘁 𝗳𝗿𝗼𝗺 𝘁𝗮𝘅𝗲𝘀 𝗮𝗻𝗱 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 𝗰𝗼𝗻𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻𝘀 𝗯𝗲𝗶𝗻𝗴 𝗺𝗼𝗼𝘁𝗲𝗱. https://lnkd.in/gchFB_Q3 Sophie Aubrey UDIA Victoria Department of Transport and Planning

Good Afternoon LI! The article below highlights how far behind Brisbane is falling in terms of housing for it's ever-growing population. Housing is a major issue Brisbane (and Australia in general) is facing. According to the Government, Brisbane requires an additional 7,500 attached dwellings constructed each year to keep up with projected population growth. Between 2020 and 2023, we delivered less than 2,000 apartments each year. Even though we are due to expect more dwellings in 2024 (just under 3,000), we are still well and truly short of our required targets. The concerning figure is that this number is set to drop to less than 1,500 in 2025. This lack of supply will increase house prices and also result in tenants paying more in rent. This is highly concerning considering the stress that the general population is already experiencing with the cost of living crisis. Incentives need to be put into place to encourage more developers to build high density developments here in SEQ. Let me know your thoughts below. #Hays #Construction #Recruitment #CostOfLiving #Housing #Apartments

Developing better standards for apartments, then increasing their supply by expanding use of the Residential Growth Zone will unlock more housing choices for Victorians and make better use of our infrastructure. The Business Council of Australia is calling for extensive rezoning across Melbourne and major regional towns to encourage more medium- and high-density housing to be built near infrastructure and services Annika Smethurst reports in The Age today - https://lnkd.in/gYcvEzec Making greater use of the existing Residential Growth Zone mechanism in areas near public transport and services would be a good start. And we should combine this with clearer standards and design guidance on low-rise apartments in the Victorian Planning Provisions. Check out 'Our Home Choices' from Infrastructure Victoria for more detailed evidence, analysis and policy recommendations - https://lnkd.in/eeaNi4rb #housing #choices #zoning #reform #infrastructure

One of the policy changes that Infrastructure Victoria can make to improve housing affordability and fairness is to ask for rental property investors to pay commercial property taxes. As a business activity it seems only fair they pay business taxes. The additional taxes can be used to fund more affordable housing and social housing infrastructure.

An interesting article here from Savills on the challenges facing affordable housing in London, due to the reduction in the ability of Registered Providers (RPs) to take on Section 106 affordable homes. How will this alter the required approach to planning for residential schemes? Find out by reading more on this subject here: https://lnkd.in/eXenZJhq #AffordableHousing #PropertyDevelopers #ResidentialSchemes

Reflecting on key updates to WA state property management regulations from last year. Keeping abreast of these changes is crucial for navigating our industry. 🏠 Link Here: https://lnkd.in/g5qDYAsP #PropertyManagement #WARegulations #RealEstateNews #HousingQuarters #SpokaneLiving #Housing

Bristol. Going to committee next week. 435 homes right opposite Temple Meads. Major first step in delivering the 10,000 homes Temple Quarter regen has promised. Officers support - in fact no consultee objections. Everyone in the industry knows how tight viability is. This would deliver 43 new affordable homes at Local Housing Allowance rents...which isn't easy in this climate. I hope committee members don't lose sight of how important it is to build all types of homes, market and affordable. Bristol has so much more potential, driven - in part - by Temple Quarter...getting onsite to build this scheme would be a major step towards fulfilling that potential. https://lnkd.in/ek-8uwFk

Home builders and developers profit by creating new homes. When they stop, it raises questions. Recently, many major housing projects have been abandoned, including AV Jennings' decision to scrap a development near Caboolture, Brisbane, which would have added 3,500 homes to an under-supplied market. Despite high demand, developers are finding it unviable to build due to massive cost escalations. Local council infrastructure charges and lengthy approval processes, along with new construction codes, have significantly increased building costs. Developers say these costs make large residential projects financially unfeasible, as the required sale prices would be unaffordable. This affects both high-rise apartments and housing estates. The core issues in the housing industry – shortages, poor affordability, and the rental crisis – stem from political decisions. Source: Hotspotting by Ryder #australianproperty #housingcrisis #propertyupdate #realestatenews #housingshortage #affordabilitycrisis #constructioncosts #propertydevelopment #realestatechallenges

📰 "We want to work in partnership with councils to build more homes in the areas where people want to live – close to the people they love and the things they love to do," Planning Minister Sonya Kilkenny said. Victoria State Government (Victorian Government) has outlined draft housing targets to address the growing demand for housing across the region, setting a goal of constructing 2.5 million new homes by 2051. Premier Jacinta Allan said “To give industry the confidence they need to get on and build, we need Government and all councils working towards the same goal: more homes for Victorians – in the right places.” Key areas such as Melbourne's Central Business District (CBD), outer suburbs, and the regional city of Geelong will play pivotal roles in meeting these goals. Read more below. Author: Joel Robinson ------------ 📣 Was this update of interest to you?🔥 Join 16,000+ of your residential property development colleagues who follow Urban on LinkedIn. We regularly post free insights about: 💡  New project launches and updates 💡  What buyers are searching for on AU’s largest off-the-plan buyer platform 💡  Weekly interviews with industry leaders Follow Urban.com.au or connect with our CEO Mike Bird to keep your finger on the pulse of the apartment and townhouse market.

In a story that investigates how much federal land would be eligible for affordable housing, Dr. Brian Doucet in the School of Planning said "we need to build the kind of housing that the market is unwilling or unable to build. The best place to do that is on public land.” A government with land can define what kind of housing gets built on it and who builds it, the cost of rent and who collects it, he says. To build quickly, development on federally-owned land can sidestep some of the local bureaucracy that slows down so many affordable housing projects. More: https://lnkd.in/gp__TM6z #UWaterloo