Policy changes to Sydney Growth Centres planning are a boost for developers: UDIA

Proposed changes to Sydney’s Growth Centres are a welcome boost to small developers and property buyers in the area, according to the Urban Development Institute of Australia (UDIA).

Sydney’s North West and South West Growth Centres have been identified as requiring a shift in planning policy to allow for a broader range of properties on smaller lots, a recent announcement by planning minister Brad Hazzard outlined.

UDIA NSW chief executive, Stephen Albin, said that the changes to the creation of small-lot housing had been long-called for.

“Proposed changes to the planning requirements can’t come soon enough for industry, and first home buyers looking to get into the market,” Albin said.

The changes include facilitating of townhouse and villa-style housing across more areas and studio dwellings located above garages in new housing developments that are strata subdivided from the main house so they can be sold separately.

Minimum lot sizes will also be changed to 225sqm as opposed to 250sqm to 360sqm at present, while in areas even more capable of supporting higher densities, 125sqm will be considered.

Another potential introduction includes the concept of a ‘Manor Home’, where a corner block property is built that looks like a two-storey home but actually includes four separate units.

“It will streamline approvals and cut costs and delays, helping homebuilders and renovators realise their dreams,” Hazzard said.

“All of the proposed changes will add to new housing opportunities in the Growth Centres by making building homes more financially feasible,” he said.

Albin pointed to development levies as the next issue to require attention.

The proposals are currently on exhibition until October 14.