LAST WEEK THE STATE GOVERNMENT RELEASED THE THIRD ITERATION OF ITS STRATEGIC PLANNING DOCUMENTATION WHICH STARTED WITH THE RELEASE OF DIRECTIONS 2031 AND BEYOND SIX YEARS AGO. THE SUBREGIONAL FRAMEWORKS OUTLINES WHERE, AND HOW MUCH, DEVELOPMENT WILL BE REQUIRED TO HOUSE A POPULATION OF 3.5 MILLION PEOPLE.
The Perth/Peel region is broken down into four corridors with detailed analysis of each one. This means that an additional 1.6 million people are expected to live here in 35 years and we have to plan well in advance where they will settle. The central region – which covers Stirling, Bassendean, Belmont and Canning to the east, and is bounded on the south by Melville and Fremantle – will be home to 417,000 more people by 2050.
North of the river, excluding the central region, will see a further 659,266 people while south of the river, including the Peel region, will see growth of 736,594 people.
It is anticipated there will be just over 676,000 new dwellings in the next 35 years, meaning that in today’s dollar, a total of about $338 billion of new residential development will be required (retail value) with about 20,000 dwellings constructed every year to 2050.
With that level of investment, it is critical to get the planning right and these frameworks are part of a much larger process that will not only consider where the extra population should be housed but also provide detail in planning schemes at the local level about the types of dwellings and how they will interface with existing areas.
Even with the rough figures above, it is clear that getting the policy settings right to support the strategic planning, and backing that up with the efficient rollout of all infrastructure, including energy, water, wastewater and transport, will provide a significant return on investment.
Research undertaken by UDIA a few years ago documented the cost of delay with approximately 1.1 per cent per month added to costs which are passed through to the purchaser. If all of the forecast residential dwellings were delayed for just one month it would add an additional $3 billion to the process of housing our growing population.
The frameworks are open for feedback until July and the documents can be downloaded from the Department of Planning’s website. The final subregional structure plans are expected to be released by the end of the year.