When it comes to governments getting things done – whether federal, state or local – the process often seems to go at only two speeds: At a crawl or all at once. It feels like vital projects, development and construction can take an age to get through the pipeline, until it's suddenly all approved.
Those looking to buy property in Allawah, Beverley Park, Carlton and surrounding areas will be pleased to hear that was the case in New South Wales recently, when premier Mike Baird announced faster housing approvals in the state. According to the announcement, the aim is to get 90 per cent of housing development applications determined in a 40-day time period.
"Increasing the amount of available housing is a priority for the government," the announcement read.
"Reducing timeframes for development applications gives certainty to the market, instils confidence and increases housing supply."
The decision was met with a positive reaction from industry experts, with the Property Council of Australia praising the attempt to reduce red tape and make housing more available. However, it warned that the aim would only be met with genuine reform to the current planning system.
"Reaching the 40-day target will require a quantum leap forward in culture, process and practice, particularly for multi-unit residential projects now common in the market," said the Property Council's NSW executive director Glenn Byres.
Mr Byres went on to say that particular attention needed to be paid to multi-unit residential homes due to Sydney's urban renewal. He believed it would serve as the majority of the NSW capital's housing in the future. If you're looking to purchase real estate in Carlton and St George to turn over for a profit, perhaps it's this type of property you should increasingly be looking at.