On the 6th July the NSW State Government is making new code changes state wide to streamline the development of more medium density housing. The code changes are contained in the Government’s new Medium Density Housing Code, with the concept being called the “Missing Middle” and is designed to open the way for more medium density development across NSW, particularly Sydney, to ease the current housing shortage and to make housing affordable across NSW.
The codes will be here shortly and many people are still unaware of this great opportunity that’s being created by the NSW Government for property investors, potential tenants and local communities.
What is the Medium Density Housing Code?
The Medium Density Housing Code contains simplified and tailored standards to allow 1-2 story dual occupancies, manor homes and terraces to be carried out under a fast-tracked complying development approval. The code is accompanied by a Medium Density Design Guide to promote good design outcomes for medium density housing across New South Wales.
What is the potential impact of the Medium Density Housing Code from the State Government’s perspective?
The benefits of the new Low Rise Medium Density Housing Code include:
- increasing the supply of housing across NSW, especially in Sydney, which will help improve housing affordability;
- better meet the needs of our changing population by providing a broader range of housing options to suit different lifestyle needs;
- help to maintain the local character of neighbourhoods with a storey height limit. This will ensure the size and scale of development will fit into established streetscapes and new release areas; and
- ensure a consistent approach to the good design of medium density housing across NSW.
Medium density housing can enable family’s greater choice about where they would like to retire.
The Mayor of Ryde, Jerome Laxale, is opposed to these NSW Government’s Code Changes, who recently released the following information, which makes interesting reading as a property investor:
- The Liberal State Government have targeted at least 9 local government areas with these changes, including the City of Ryde.
- They have changed definitions, which will allow terrace housing and manor homes (4 apartments in one building) in low density zones effective July 6 this year!
- Duplex lots will go from a 20m frontage minimum to a 12m frontage minimum. That’s 14464 potential duplex sites in Ryde and a potential for 32,000 new residents almost immediately.
- Manor homes will be able to be built on 600sqm lots with 15m frontage. Manor homes are currently prohibited in Ryde’s low density zones.
- Terrace housing can be build on lots of 900sqm and 18m frontage. Terrace housing is currently prohibited in Ryde’s low density zones.
Here at Plan Assist we have been aware of these upcoming changes for the past two years, and have been speaking and educating property investors to this new opportunity so our clients could prepare for these sweeping changes.
There are still many more opportunities for property developers and investors across NSW.
Here is an extract of a recording we did on this 18 months ago, still valid today, that explains this opportunity to property investors.
We’ll be keeping a close eye on this developing story over the coming weeks.