Chapter 19 of "The Great Housing Hijack"

My Favorite Quotes

“The idea might seem strange at first, but the Australian Capital Territory has successfully price development rights like this for half a century. A change-of-use charge (CUC) is levied at 75 per cent of the market value from the increase in the density of use when redeveloping property.”

“Back in the 1970s, Sydney had a ‘betterment levy’ of 30 per cent of the additional value from converting rural to urban land.”

“Why not sell development rights and use the revenue raised to build or buy home to rent at below market price?”

“Because up-zoning provides an economic gain if property is undeveloped, it provides an incentive to delay development at locations where future up-zoning is likely.”

“Another idea is to offer temporary up-zoning in targeted areas, so the property owners must rush to develop before their right to build higher density housing expires. Another is to have fees on development that rise over time, so that they add to the cost of delay. Another is to have short expiry periods for planning approvals.”

“Laws have mostly shifted in the opposite direction, rewarding waiting.”

Find your favorite quotes. Book available at https://www.amazon.com/Great-Housing-Hijack-keeping-Australia/dp/176147085X.