House prices may increase in NT
House prices might be driven up in the Northern Territory under a potential new Planning Commission, according to a government dispute.
Investors with property in the territory may see their house values pushed higher should the Country Liberals establish a Planning Commission if elected later this year.
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The Commission aims to develop long-term strategy plans for the Territory, however NT’s Labor Party has claimed that the new plans will increase the cost of housing to unaffordable levels and may add unnecessary red tape to planning processes.
Treasurer Delia Lawrie said that “Under the CLP, people wanting to build more housing are going to need the approval of both the DCA and this new Planning Commission.
“It’s simply more red tape, more bureaucracy, more delays and higher house prices,” she said.
However, opposition leader Terry Mills believes that the Country Liberals will offer “a new direction in planning that will benefit all Territorians.”
“We will make sure young Territorians can stay here through growth and not be squeezed out, with urban renewal and affordable rents,” Mr Mills said.
“Over the past two years 4,000 more people have left the Territory than moved here from interstate – in part because of rising rents and higher costs of living,” he said.
The Commission will be responsible for deciding land use objectives, guiding developments (urban, industrial and agricultural), determining transport requirements, identifying infrastructure needs (education, health and services) and identifying gaps in planning.
