Canberra home approvals low: ‘we have to do better’
Despite being one of the country’s fastest growing cities, Canberra to slow to move on new home approvals. It has prompted calls for processes to be streamlined.
JUST 91 new dwellings were approved in Canberra in September, prompting calls for the delivery of new homes in the nation’s capital to be made far easier.
Latest Australian Bureau of Statistics data shows 91 new dwellings were approved in the ACT in September, a large contrast from 563 in August.
Over the last 12 months, total approvals reached 3,365, but the Property Council ACT said this was “well short” of the monthly average of around 500 needed to be on track to meet the ACT’s housing target of 30,000 new homes by 2030.
Property Council ACT and capital region executive director Ashlee Berry said action was needed quickly because the “pipeline for housing is so fragile and we’ve no time to waste”.
“Last financial year, housing starts fell by more than 50 per cent and completions also dropped,” Ms Berry said.
“Approvals are the canary in the coalmine for housing starts and completions, and Canberra won’t meet its targets if feasible projects never leave the drawing board.”
Canberra is one of Australia’s fastest-growing cities, with the population tipped to reach almost 700,000 by 2050.
Ms Berry welcomed the ACT government’s new statement of planning priorities but said barriers to cost and coordination needed to be addressed quickly to restore confidence and lift approvals.
The Property Council is calling for a practical delivery package to match the government’s new planning priorities and wants to see more support for smaller builders to enter the market.
It also wants to see the clearing of post-approval delays and fixing of lease variation charges – fees for changing a Crown lease – which it argues are making otherwise viable projects financially unfeasible.
“The government deserves credit for its planning leadership – the next step must be delivery,” Ms Berry said.
The Property Council will bring government, industry and community leaders together at the Capital Region Housing Summit on November 20 to focus on practical solutions for Canberra, covering issues including lease variation charges reform, faster post-approval processes, financing and infrastructure coordination.
Canberra home approvals low: ‘we have to do better’
