Brisbane city council is considering adopting the relaxed parking rules in parts of four suburbs: Fortitude Valley, Kangaroo Point, Milton and Newstead.Brisbane city council is considering adopting the relaxed parking rules in parts of four suburbs: Fortitude Valley, Kangaroo Point, Milton and Newstead.Brisbane city council is considering rolling back expensive car-parking requirements for developers in four inner-city suburbs in a bid to slash the cost of housing.
“The idea that this is going to lead to some massive supply that’s going to put a downward pressure on housing prices in a way that’s going to be tangible to people in this moment, I think isn’t going to happen,” he said. Urban economist Stuart Donovan said the minimum parking requirement had made low-cost social housing projects particularly difficult.
“There’s a relatively large number of low income households that don’t own any cars at all and/or don’t have a driving licence and removing these minimum parking requirements is really going to benefit them because they’re going to be able to get more housing at a cheaper price, that doesn’t come with parking that they don’t need.”
Source: Real Estate Daily Report (realestatedailyreport.net)
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