The West Australian
Perth property is set for a drastic price hit because of constraints preventing the construction of 150,000 to 200,000 homes, according to the peak development body.
The Urban Development Institute of Australia (WA) has revealed 24 per cent of all land zoned for development, and 18 per cent of land set aside for future development, is actually off-limits.
It claims the 28,090 hectares of land has been “sterilised” from future development by natural constraints like floodways or protected bush sites — and infrastructure commitments like rail and schools.
To read the article in full including comments from UDIA WA CEO Tanya Steinbeck, click here.