Homes could be $100,000 cheaper over a decade if Australia’s capital cities dramatically overhaul their zoning rules to allow three-storey townhouses and apartments to be built on all residential land, according to a new report from the Grattan Institute.

Calling for an end to the “ age of nimby-ism ” and “a housing policy revolution”, the independent thinktank said Australians were keen to embrace apartment and townhouse living, especially if it meant access to more affordable and well-situated homes.

Brendan Coates, the director of the Grattan Institute’s housing and economic security program, said it was time Australians accepted that our biggest cities must be more densely populated if we hope to deliver the number of homes people, particularly younger generations, need. Chart tit

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