Real estate in Sydney could be set to benefit from recent planning proposals put forward for New South Wales (NSW), with one property expert suggesting they will help developers and investors.
Last week, the NSW government released a white paper and draft legislation that argued for more community involvement in planning processes for local areas, including new housing projects.
And Glenn Byres, NSW director of the Property Council of Australia, praised the potential of the new system, claiming it could "remove the angst and confusion" inherent in current procedures.
"More meaningful strategic planning, independent development assessment and simpler pathways for complying development signal a substantial shift to better policy settings," he explained.
"A major reduction in the red tape and site-specific wars that have spooked investors from making a commitment to projects in NSW will hopefully follow."
His comments echoed similar plaudits from other industry commentators, with the Sydney Business Chamber and the Committee for Sydney among the white paper's early backers.
Sydney Business Chamber executive director Patricia Forsythe said the new system would help move the city towards a more transparent, efficient and fairer method of development.
This could spell good news for people hoping to buy or sell real estate in Sydney, with Ms Forsythe highlighting the fact that the NSW government recognises issues at the heart of the problem.
She remarked: "This holistic and inclusive approach reflects that the government gets that what has been dogging the planning system isn't simply a provision in the Act, but the culture that sits around the planning system."
However, Mr Byres said there will need to be "strict enforcement" of any performance targets that are set if the plans get the nod at a legislation level.
He also urged the NSW government to consider the schedule and funding of regional infrastructure, adding that it needs to be stringently monitored and completed to ensure there are no costs added to housing projects.
"A better system of local infrastructure charges seems possible, but there is a need to tread carefully in the design and application of regional contributions," he said.
Not all industry opinions for the white paper were favourable, with campaign group Australians for Affordable Housing claiming that a recommendation in the document for banning developer contributions could harm people wanting to purchase affordable homes for sale.
Joel Pringle, campaign manager at the organisation, admitted housing supply would improve under the plans, but questioned whether the proposals would help first home buyers find appropriately priced properties.
