Changes to NSW government planning policy to allow for a smaller lot development and a variety of medium-density housing choices are a move in the right direction, according to the Real Estate Institute of New South Wales (REINSW).
Amendments to the State Environmental Planning Policy (Sydney Region Growth Centres) 2006 (Growth Centres SEPP) in effect from Monday, are designed to increase housing options and improve housing affordability across the north west and south west growth centres.
“New planning minister Pru Goward has recognised what the market wants and has reacted to it quickly and efficiently,” REINSW president Malcolm Gunning said.
“REINSW has been calling for these changes for some time and we hope this may be rolled out across other areas, including regional NSW, which is crying out for a wide variety of housing styles.
“These amendments will allow for terrace and small freestanding properties that will appeal to the broader market,” he added.
Mr Gunning said the changes will also provide a greater range of choice and support for both first home buyers and older Australians who are looking for high quality, affordable housing.
“It is imperative there is good infrastructure in place and these changes allow for the right style of property to be developed in the transportation corridors,” he said.
“These new developments will complement retail and commercial hubs and the changing face of home ownership and the desire to be in close proximity to the town centre.”