Developers are paying up to $85,000 for every housing block they put on the market, with research showing the fees are driving up property prices and in some cases aren’t being used to develop local infrastructure for new homeowners as intended.
The NHFIC found developer contributions in NSW were the highest in the country, ranging between $25,000 and $85,000 per dwelling. In Victoria, they varied from $37,000 to $77,000 while in Queensland they were between $29,000 and $42,000. The increase in social infrastructure supposed to be funded by developer fees is now delivering fewer immediate benefits to new buyers, with the NHFIC finding the contributions were acting as a tax on housing.
Developers did not support current contribution systems, wanting more transparency so they could make better informed and timely investment decisions while councils said they found it difficult to provide necessary infrastructure given demand and the pressure to balance their budgets.
swrighteconomy Everyone so preoccupied with other matters these days that councils now flying well and truly under the radar. They have been wasting developer contributions for more that 25+ years. Acting like police rather than serving the community.
swrighteconomy Who is talking about affordable Council rates? They go up more than inflation because bloated land values increased due to a continuous growth narrative of the government, supported by the media
swrighteconomy The price of becoming clean and green.
swrighteconomy So much corruption and Rorts in NSW I can’t understand why conservative media protects GladysB
swrighteconomy Which is: WRONG!