NZ Reforms To Force Councils To Release More Land

29/10/2012 1:21 am

New Zealand Finance Minister Bill English has indicated new reforms will force councils to open up more urban land to be redeveloped and allow more sites on the outskirts of cities to be zoned for housing. The Government also wants to speed up and simplify planning processes.

The New Zealand Government will today unveil its response to a Productivity Commission report in April which warned that young, single and low-income earners were being priced out of the market. Prime Minister John Key said that some of the Government's proposals could be "quite bold" such as fast-tracking land to be redeveloped quickly.

The Government also wants to ensure infrastructure around new developments is funded so that projects are not held back and wants to work more with building companies, he said.

It will be interesting to see what comes out of the response to Productivity Commission report. It is unlikely anything will happen until next year, however it looks like good timing for the Government.