Welcome to our latest Quarterly Update, where we dissect the evolving landscape of development, infused with insightful analysis and crucial updates designed to keep you well-informed and ahead in the dynamic Western Australian market.
Town Planning
Reforms to Development Assessment Panels (DAPs)
1 MARCH 2024
The new Metro Inner, Metro Outer and Regional DAPs become operational.
The new Significant Development Pathway becomes operational. Projects valued at $20million or more in the Perth metropolitan area and Peel region and $5 million or more in regional areas.
Medium Density Codes
1 APRIL 2024
The changes respond to industry feedback to help reduce any further impacts on the housing construction sector and keep the cost of delivering affordable housing down.
The new Part C of the State Planning Policy 7.3 – Residential Design Codes is an addition to Western Australia’s R-Codes and will apply to single houses coded R50 and above, grouped dwellings coded R30 and above, and multiple dwellings coded R30-60.
The revised policy will retain the site area incentives for small dwellings and accessible dwellings in areas coded R30-R60.
It also provides potential for ancillary dwellings on grouped dwelling sites and removes the previous minimum 350sqm lot size.
Development Applications
1 JULY 2024
Development applications involving single houses and any associated development, except where heritage is involved, must be determined by technical experts, through the chief executive officer or local government employee and can no longer be referred to or ‘called in’ by council for determination.
Planning Online
An online system for lodgement and tracking of applications and a new user-friendly website will be available to help community members, applicants and stakeholders navigate and understand State planning processes.
Spatial
The WA State Government has allocated Spatial WA $140 million in funding over ten years to improve Western Australia’s digital capabilities to accelerate land development approvals and streamline the delivery of key infrastructure projects.
Once demonstrated, Spatial WA will scale and expand to enable public and private sector to use the Advanced Spatial Digital Twin – ultimately becoming a single location to discover, access and use Government data.
Delivery
Perth still remains well below median housing values.
Dwelling value to income ratio is still low when compared to income the ratio nationally, this provides a suggestion that housing prices can remain climbing in Western Australian in the coming month.
Population
“Western Australia had the fastest growing population, up 3.3 per cent compared with the previous year. This was followed by Victoria, which grew by 2.9 per cent, and Queensland which grew by 2.7 per cent,” Ms Cho said.
(Source Australian Bureau of Statistics -ABS Released 21/03/2024)
Unemployment
“The seasonally adjusted unemployment rate nationally fell by 0.4 percentage points to 3.7 per cent in February, according to data”
(Source Australian Bureau of Statistics -ABS Released 21/03/2024)
Closing Thoughts
1. Planning changes will create opportunity: Planning changes will create opportunities, anyone who owns property zoned R30-R80 should revisit any opportunities that may arise by these changes.
2. Government makes smart move: Government spending on digital twins will result in better long term asset protection and maintenance.
3. Build prices may tick up: Key indicators for (Perth) Western Australia remain strong, we are still seeing strong east coast activity, with local investors now re-entering the market. This indicates that build costs should slightly rise given the continued and growing demand for housing.
