The PROPERTY DOCTORS, Sydney Australia Novak Properties

EP. 1258 NEW PLANNING CHANGES JUST MADE YOU RICH?

• Mark Novak, Billy Drury • Season 27 • Episode 1258

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What if you could transform your property into a goldmine just by being near a shopping precinct or a train station? This episode unpacks the game-changing property zoning regulations newly introduced by the New South Wales government. We explore how dual occupancies, manor housing, and mid-rise developments within 400 to 800 meters of key locations are set to revolutionize housing affordability and bring substantial financial rewards to property owners. With specific insights into areas like Balgowlah, we also analyze the expected timeline for these changes and their wider implications for the housing market and first-time buyers.

Staying ahead of local planning developments has never been more crucial. In this episode, we lay out practical tips on how to efficiently keep up with media updates and search for the latest planning news using Google's time filter options. Whether you live in the Northern Beaches or elsewhere in New South Wales, we'll help you navigate the information landscape to stay informed about changes that could impact your home and community. Don’t miss out on these vital insights and learn how to stay prepared for the upcoming zoning transformations.

Speaker 1:

oh my god. This is true, billy. It's actually really happening. Guys and girls, you could have been made rich today by the the changes in the planning. We're going to talk about them. Stay tuned.

Speaker 2:

I'm the ringleader, so let's go Overnight.

Speaker 1:

Yes, A government doing what they're saying they're going to do. It's actually. It's real. It's happening today. It's crystallising what happened. Billy, tell everyone.

Speaker 2:

Over the weekend yourself. Some others must have seen the news on Channel 9, talking property changes. Again, this is a lot of speculation, but it looks like it's finally coming to fruition. Local councils talking about changing low and medium medium density zoning what does that all?

Speaker 1:

mean they're not talking about anymore, they've just dropped. So today, well, um, basically the whole idea was on the back of affordability. They were saying let let's grab big blocks when can we develop? And let's introduce more low-rise and mid-rise developments. Let's pick everywhere in New South Wales where they can get done. So they picked on 400 metres to shopping centres and 800 metres. There were sort of two ratios there that you got changes on, and yesterday they announced that today they're going to have a whole bunch like a truckload of suburbs are going to have this introduced where people can do some jewel, um, jewel occupancies, um, and, I even think, some manor housing. So that's that's dropped today. Now I was looking for northern beaches. That hasn't come through yet, but apparently talking to developers that we do, um, everyone in the last couple of weeks has been saying mid-July it'll be in. So guys, keep an eye out on this for the northern beaches as well, because you're seriously going to make a lot of money from your property if this is the case.

Speaker 2:

Well, this is a state initiative and state initiatives which they get behind and up the back end of a council to push them along in the right direction. So there's different people involved in this decision-making. Council is one of them, but state is also the other. We've seen what North Beach would look like, if you know, if it's sort of you know released, which is likely, and that's pretty exciting. Like I'm just going to give people a bit of an idea of what you can see along you know, your local sort of rows of shops, your local streets and your local town centres.

Speaker 1:

So if you're 800 metres to a shopping precinct, dual occupancy is going to be super common. What's that? You're turning your one property into two. They could be attached, they could be detached, one behind the other. Residential flat buildings, two-storey flat buildings, manor housing Manor housing is like a unit block. You turn a house into a unit block of four Townhouses. Terraces on top of shop tops, so there's shops downstairs. You can see four to five storeys on top of shop tops, so there's shops downstairs. You can see four to five stories on top of that. This is big. Now I'll tell you where I also think it's big. It's it's with.

Speaker 1:

When it was announced, everyone was like yeah, yeah, yeah, okay, sure, whatever. We heard all this before, but today it's been dropped not in its entirety, but I just think now that they've done what they've done today in part, it shows they're sure-footed in that direction of getting more density. And what does that mean to mums and dads and people that own blocks of land? Again, if you're 800 metres to a train station or if you're 800 metres to a shopping centre, you and the minimum block size on some of these that were dropped last today were 450 metre square blocks. So you know that's it's payday for some people. It's payday for some people that have been within 800 metres of shopping centres.

Speaker 2:

Now, if this goes through, are you going to see a developer knocking on your door next week saying I've just had new opportunities. How quickly have you seen this roll down in the past?

Speaker 1:

Well, look, I think as quick as I think, what Channel 9 is saying. I think it was over 50 districts where they've launched it today, but you should be able to make an application against it, probably over the next month or two. So that's an explosion of more property um to the market. It's good for builders. Um, it's good for people that own these blocks of land. Um, it's good for first home buyers, even because it kicks downwards.

Speaker 2:

It kicks upwards into different prices yeah, just to give you an example of what this looks like locally as well. There's a good little document here.

Speaker 1:

I like those heat maps for our area. Yeah, the heat maps are great, but look at the.

Speaker 2:

Yeah, look at the height changes. So this is on Sydney Road in Balgali. You might know this intersection up near Stocklands, but that's currently three levels know shot below, to it, to above and um, that could go up to 21 meters.

Speaker 1:

Three, six, seven stories, big change massive and what show us those heat maps like to give you an idea what, what it looks like with density, and where people are going to be building in suburbs. Now, guys and girls, this girls, this is in today on most of Sydney. A lot of the low-rise stuff has come in today, but you can see in just these particular precincts, like that's the manor housing, which is putting a unit block of four, so we've got 100,000 homes in that area that you can see the white and you can see the area affected where they can do nine and a half meter height um, it's pretty cool. Townhouses, they're the areas that affect it.

Speaker 2:

Dual occupancies, they're the areas that affect it so that's, um, yeah, you can see the block size there 450 square meters, 12 meter width. It's really really interesting stuff. So, um, this is what you could see coming in pretty quickly. We've got a little sms set up on this already where, if you would like this document, sms zero, four, six, zero, triple one, uh, the word planning, and we'll send this out to you straight away.

Speaker 2:

This is from a council, but yeah we've seen this rolled out across other councils and you know the talk is following quite closely.

Speaker 1:

So, yeah. So if you just tuned in, it's a statewide initiative. Minister of Planning made bold announcements about six to nine months ago saying they're going to do a bunch of more density coming into New South Wales. Everyone shrugged their shoulder and thought, yeah, yeah, yeah sure. We spoke about it a month ago, two weeks ago, saying it's coming, it's coming. Develop two weeks ago saying it's coming, it's coming. Um, developers are now. We're saying it's coming, it's coming. And it dropped today for the low density side of it, for the majority in new south wales. So keep an eye out on all this stuff coming out. And it's not too good to be true. It is actually true, it's real, it's, it's happened. Um, and there's good to be true. It is actually true, it's real, it's happened and there's going to be more layers coming through referring to that medium density, that low to mid-rise housing. So pretty exciting stuff.

Speaker 2:

Yeah, refer back to the state government website as well. That's sort of your best source of this stuff. Those are the guys that are rolling things out. Yeah, if you were a home buyer. It's probably the biggest thing that we've seen. Yeah, If you were a home buyer looking for an entry-level house, would you change your search criteria now, knowing what you know? Trying to get into those little markets?

Speaker 1:

and shops. Oh, you may want to try to stay out of those pockets. I think for some people that just want a conventional home, I think they're going to turn around and say, look, I don't want to be in those areas, I don't want to be within 800 metres. There may be a new sensitivity for buyers around 800 metres to shops, where they don't want it or where they do want it. So you could see areas physically change their whole tone depending on if they're close to shops or not stay tuned.

Speaker 2:

We, you know this is literally changing by day, week by week it's amazing.

Speaker 1:

I've never you know what in in 30 years of real estate, I've never seen um such big changes coming through, um for mums and dads, um, in all councils. So, um, and then I didn't sort of believe it. And then there was this huge churn about it the last couple of weeks and then last night, the it was on channel nine news they dropped all the uh that it's today, all the, all these things will be announced, um, and that's only part of all the things that it's today, all these things will be announced, and that's only part of all the things that are going to be dropped. That was more the low, low rise development stuff that's being dropped today, but the mid rise stuff is yet to come.

Speaker 1:

There's an enormous amount of preparation and planning and traffic and traffic movements and just so much for people to consider. But I think, like you said the beginning, billy, this is where councils have been very finite on what you cannot do within their area and the state government has come through with an iron fist and said this is what you're going to do. So a lot of councils have have resisted the last couple of months, but this iron fist coming through is just smashing away for further development within 400 to 800 metres around shopping centres.

Speaker 2:

And there is an appetite, you know, for affordability. There is an appetite for more housing. We're consuming more houses, you know, as a population. So, yeah, this is certainly on everyone's agenda.

Speaker 1:

Big time, big time, big time. Anyway, if you're out there today, guys keep an eye and look into and, interested in it, keep an eye on the media. It is a real thing. It does to some people sound too good to be true To see it happening. I can't believe it.

Speaker 2:

And if you want to check your own home, new South Wales, what's the best way to check your own?

Speaker 1:

home. I probably think I would probably give it some air over the next week and see what does drop today and see what papers get developed. By the way, for people that don't know, a bit of a hack. If you're searching in Google, you can actually search within 24 hours, seven days or one month. So if you're searching planning New South Wales planning or your local like Northern Beaches, new South Wales planning, I always do like a one-week search so you can actually, on the top bar in your menu you can actually refine to you know news that came out just in the last 24 hours, for instance. So I would be doing searches like that to see what information is dropping in there you go, have a good day bigger.

Speaker 1:

Have good day, billy. See everyone.