Reform and changes to the Perth property market in 2018

Streamlined planning approval processes and strata title reforms are among the promised changes ahead of the Perth property market in 2018.

Late last year, it was revealed a reform team was to be created by the Department of Planning, Lands and Heritage to deliver a more streamlined and strategic planning approval process.

Pindan Director of Development Management, Nick Allingame, said current delays, uncertainty and duplications were resulting in a system where timeframes were blown out, with the price of land and the cost of housing to the consumer increasing.

Mr Allingame said he was looking forward to the reform team making swift progress to the benefit of new homebuyers in 2018 and beyond.

The goal of the team is to strengthen suburbs by increasing housing choice, boost public transport and enhance the built and natural environment, according to a statement from the Department of Planning, Lands and Heritage.

The team’s range of objectives include, ‘opening up the planning system so that it is understandable to all; clarifying local and State planning roles and functions of the WA Planning Commission and Department of Planning, Lands and Heritage and formally recognising the need for community participation,’ to name a few.

“Pindan looks forward to keeping up to date with the team’s progress,” Mr Allingame said.

Strata Titles Reform is also on the agenda for 2018.

Two critical pieces of legislation, the Strata Titles Amendment Bill and the Community Titles Bill are set to be delivered to parliament by mid this year.  

“The major changes that industry is excited about with regard to this new legislation, is the long-awaited introduction of Community Titles along with improved management of strata companies and changes to the rules around termination of schemes,”
Mr Allingame said.

“The introduction of Community Titles in WA means that multiple sub-schemes will be able to exist under an umbrella community scheme, with each sub-scheme having its own strata company.  

“This means large scale strata developments that will be delivered in stages, as well as developments with a mix of residential, retail and commercial, will be able to have different sub schemes for different sections.”

Mr Allingame said he was hopeful the changes would result in a fairer and more equitable framework for collection of strata fees for the different schemes and better allocation of management responsibilities. 

Meanwhile, Mr Allingame said it was shaping up to be an exciting year ahead for the Perth property market with positive market sentiment brewing and expert commentators touting moderate growth in home values and stronger sales activity.

Source: Pindan

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