NSW apartments - would you like parking with that?

Minister for Planning Pru Goward announced on 23 September new planning guidelines for apartment design in NSW. The guidelines would allow apartments being built within a 400 metre radius of public transport hubs to do away with parking allocations for units completely.

The theory being that removing parking spaces would not only cause significant savings for people looking at houses for sale in Sydney and surrounds - which is up to $50,000, a number not to be sneezed at - but also encourage people to commute via public transport. The ideal situation within the guidelines would see decreased costs for first homebuyers and a lower impact on the environment by daily commuters.

Ms Goward stated that "the closer people live to public transport hubs, the less likely they are to rely on cars." and that "a car space can add up to $50,000 to the cost of a new apartment, so providing more flexibility around car parking requirements could lead to savings of up to the same amount for homebuyers."

Although there is some support for the new guidelines, within a week the overwhelming majority of local NSW councils have stated that they would resist the changes, which could add congestion to their streets, according to a 26 September Daily Telegraph article. Most councils tend to agree with the Rockdale mayor Shane O'Brien who said that even though people may commute by public transport, most of them would still have cars, as reported by the Daily Telegraph.

With most councils decrying the attempt to slash the minimum parking spaces per building, it seems the plan will not roll out to all 22 suburbs as originally intended, but rather will be constricted to the inner-suburbs.

This solution would perhaps provide the best outcome for all. Those who wish to take advantage of the savings possible under such a scheme would be able to, whilst those wanting to retain relative autonomy with their vehicles, yet not live in a congested neighbourhood, can still enjoy the peace and quiet of Sydney's outer suburbs.

It is yet to be seen what the official verdict on the new guidelines is, but it will be a point of interest not only for those looking at real estate in Sydney, but for people looking at real estate all over Australia. With many local governments seeking to implement plans to increase the efficiency, profitability, and security of their local residential property markets, all eyes will be on Sydney as the flagship for the nation's property industry.