Consider economic reality of development, Property Council says
It has made a submission on the Productivity Commission’s inquiry into using land for housing.
Chief executive Connal Townsend said requirements in district, regional and unitary plans were being drafted in isolation.
“The lack of regard to how the cumulative impacts of rules and requirements affect development is inadequate, particularly in parts of the country with a housing under-supply. These plans have the ability to send powerful investment signals to the industry. If requirements and zoning fail to send a reliable, strong signal out to the market, they simply won’t attract the levels of development needed to address supply issues.”
He said council decision-makers must understand and consider how their decisions and requirements affected development and its economic feasibility.
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