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{{propApi.successMessage}} {{region}} Change locationReforms to infrastructure contributions will help build more homes
Reforms to infrastructure contributions will help build more homes
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The NSW Premier has announced a re-elected Labour Government will overhaul the system for local infrastructure contributions. This includes allowing contributions to be paid at the completion of a project and providing councils with greater flexibility to how they can use the funds.
“Infrastructure contributions can be upwards of $100,000 per dwelling in some areas. This is a significant upfront cost that developers must pay before any shovels are in the ground.
“Allowing contributions to be paid when a project is completed will unlock capital and reduce project finance costs. This will make projects more feasible and help address housing affordability” added Mr Armitage.
Changes are also proposed to help small business by cutting red tape in the planning process.
“Projects that are assessed as complying development are approved in around 20 days compared to around 80 days for council DA’s. Expanding the use of complying development will speed up approvals, lower costs and contribute to increased productivity.
“There have been significant improvements to the planning system over the past 12 months. The reforms announced today are another step in the right direction to improve housing supply”, concluded Mr Armitage.
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