Building in western Sydney 'no longer financially feasible'
A Property Council report has claimed that building in western Sydney is "no longer financially feasible," after fees introduced last year would add an extra $60,000 in taxes to every home.
Now developers want infrastructure charges cut.
"I think these new taxes will be the straw that breaks the camel's back," ALAND development group CEO George Tadrosse said.
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A Property Council report has claimed that building in western Sydney is "no longer financially feasible," after fees introduced last year would add an extra $60,000 in taxes to every home. Nine
NSW Property Council Executive Director Katie Stevenson said the taxes are "crippling" builders' abilities to produce new homes.
"We're calling on the government today to put a halt on those plans for the next five years," Stevenson said.
The report says western Sydney could lose 55,000 potential new homes if the taxes remain in place.
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The report says western Sydney could lose 55,000 potential new homes if the taxes remain in place. Nine
Construction experts claim if the additional fees are lifted, 190,000 new homes could be built across the city, including 126,000 near Parramatta and the new Badgerys Creek Airport.
NSW has set the target of building 377,000 new homes by 2023.
Planning Minister Paul Scully said the government would not cut property taxes in order to meet that goal.
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