Homes could be $100k cheaper in 10 years with one change to zoning rules, Australian report finds

Allowing three-storey townhouses and apartments to be built across all residential land would unlock more than 1m homes in Sydney alone, according to modellingGet our breaking news email, free app or daily news podcastHomes could be $100,000 cheaper over a decade if Australia’s capital cities dramatically overhaul their zoning rules to allow three-storey townhouses and apartments to be built on all residential land, according to a new report from the Grattan Institute.Calling for an end to the “age of nimby-ism” and “a housing policy revolution”, the independent thinktank said Australians were keen to embrace apartment and townhouse living, especially if it meant access to more affordable and well-situated homes. Continue reading…