Since introducing the new zoning categories it is becoming evident that some municipalities are out of bounds for developers.Glen Eira for instance will restrict residential development to a dual occupancy only on most residential land in their municipality.oc1Participant@oc1Join Date: 2012Post Count: 148
We CAN make money off a dual occ you know…..so no, these areas are not out of bounds.
A classic example of what I mean. Client wanted to develop three units under the old Res 1 zoning in Nillumbik Council which would deliver a good 25% return . Recent rezoning made site a Neighbourhood Residential Zone which would only allow a Dual Occ. The return is not worth the exercise as he bought recently and to demo existing house to replace with a new house does not stack up.There are about 15 Councils who are yet to have their zoning maps approved. Make hay while the sun shines!
Assessing a site today for developer builder in Whitehorse Council area. We can get 4 good sized units Return will be in the low 30%. Whitehorse has earmarked the site to be a NRZ if the Minister signs off which will then restrict to a dual occ if approved. We are lodging our Town planning Application next week in a great rush as the transitional provisions will protect us. Currently site a General Residential Zone. Will Councils make a difference to property prices in Melbourne?
New residential zones being considered by Planning Minister Matthew Guy risk pushing up house prices dramatically in Melbourne’s most expensive suburbs, and depressing land values in less wealthy areas, according to a letter penned by 35 of Victoria’s most senior planners and consultants.
The letter, submitted as part of a review of residential zones set up by the minister, argues that vast tracts of inner and middle Melbourne could soon be protected from medium-density development.
Victoria’s councils are midway through amending their planning schemes based on three reformed zones: growth, general and neighbourhood.
The neighbourhood zone limits all development to single dwellings or dual occupancies and introduces a mandatory height limit of eight metres. Previously, councils could allow taller developments.
All of Melbourne’s inner councils have applied as part of a process launched by the minister to dramatically restrict high-rise development in their areas in all but a handful of locations.
Some councils, such as Port Phillip, have asked the minister to allow medium and high-density development in a tiny 1.2 per cent of their areas.
Many others, including Yarra, Boroondara, Maribyrnong, Stonnington and Bayside, have asked for similar restrictions on where apartment towers can go.
The group of planners says the proposed reforms to what types of houses can be built where are “the single greatest change to the strategic and statutory planning system in Victoria for a generation”.
Read more in The AgemazzParticipant@mazzmazzJoin Date: 2014Post Count: 3
I have property in Banyule (Montmorency) It is under the new NRZ. Is this set in stone? or are there any variables the council will take into account to allow 3 townhouses on instead of just a dual occupancy. I see other applications being started in Banyule that are asking for 4 townhouses and this property was also under the new NRZ as is all of Montmorency.
- This reply was modified 4 years, 10 months ago by mazz.
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