UDIA (VIC)

The Urban Development Institute of Australia (Victoria) today said too much burden is placed on new home buyers by state and local government. 

Tony De Domenico Executive Director  UDIA (VIC)

Tony De Domenico, Executive Director of the UDIA (VIC) said, "A large proportion of the price of a house and land package, or of a new apartment, is in levies to state and local government, utilities and authorities".

"This is putting housing out of the reach of first home buyers, making it harder to build more homes, and forcing the price of existing homes and rents up."

"Those investments that increase the productive capacity of the economy, including reducing congestion and pollution, and that stack up over a sufficient long-run cost-benefit analysis should be built for the benefit of the citizens of today and tomorrow."

Mr De Domenico said, "Alternatively, in addition to its current role in identifying, prioritising and advising government on infrastructure projects, Infrastructure Australia could be given responsibility for issuing Infrastructure Bonds."

"These could be issued for a local area or for a project, and raise money to ensure that projects are built in a timely way."

Mr De Domenico said the complicated planning process in Victoria built up over the last decade has seen variation from council to council on regulations, the use of 173 agreements to force extra funds from the industry to alleviate delays in projects, and three layers of environmental regulations - local, state and federal which often conflicted or overlapped.

All of these issues built costs into every block of land which ultimately the first home buyer pays."

Media Enquiries:
Ron Smith, Corporate Media Communications, UDIA (VIC) - Mobile: 0417 329 201