This research paper highlights the growing gulf between housing prices and buyer purchasing capacity in Melbourne.
Read the full Development Contributions, Fees and Charges research paper here.
Background
In Victoria, proponents of urban development are required to make various financial and other contributions as part of the development and approvals processes.
In financial terms, the most significant contribution required in urban growth areas is usually in the form of a ‘development contribution’ levy. The rate at which these contributions have increased has been of concern to the development industry for many years and has led to several reports and government reviews of the system.
Other contributions and charges have also changed or been added over recent years, resulting in a complex patchwork of charges on development.
This research into development contributions and other property development taxes and charges in Victoria seeks to analyse the impact that these charges have on the property industry.
