DISCOUNTED BUT NOT ‘AFFORDABLE’: NSW POLICY TO BUILD CHEAPER RENTAL APARTMENTS A BOON FOR DEVELOPERS
https://i.guim.co.uk/img/media/07d31c2f038a9594c875f7224af902c02de1b6aa/548_0_6827_5464/master/6827.jpg?width=140&quality=85&auto=format&fit=max&s=d31cfd575b3c1619c676dec33fafd6b8
✍️ A small block of units in Sydney was granted extra floor space to add affordable units, but the rent is still high, and the policy benefits developers more than renters.
👉 The NSW government's policy to encourage new housing through 'in-fill' development near transport has led to developers receiving a density bonus. 👉 The density bonus allows developers to add more units, including 'affordable' ones. 👉 The rent for the 'affordable' units is still high, with tenants paying 40.3% of their pre-tax income. 👉 The policy benefits developers more than renters, with the majority of the benefit going to the developer. 👉 Researchers suggest that the policy may need a makeover, especially in suburbs with high-value real estate and tight controls on density.
-- #AnastasiyaKozak #ChrisMurphy #PeterPhibbs #PaulScully #PaulKeating #JohnEngeler #LeoPattersonRoss #Sydney #ClovellyRoad #Edgecliff #CrowsNest #NorthSydney #PottsPoint #MacleayStreet #politics
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