More planning approvals won’t magically lift housing supply

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Last week, apartment developer Tim Gurner said the quiet bit out loud when he admitted that relaxing planning rules won’t magically boost housing construction:

“Rich Lister and Melbourne developer Tim Gurner says while the anti-development stance adopted by many councils is a major roadblock, it is only a part of problem”.

“He estimated that less than half of the 51,000 new dwellings approved in Victoria last year would actually get built, due to poor pre-sales, financing or developer capability”.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.