Homes ‘$100,000 cheaper in 10 years’ under townhouse and apartment plan for major cities: Grattan Institute

Homes would be $100,000 cheaper to buy and renters could save big if restrictive planning controls were overhauled to allow three-storey townhouses and apartments to be built on all residential land in Australian capital cities, according to a new Grattan Institute report.

Describing our major cities as among the least affordable and least dense for their size in the world, the “ More homes, better cities ” paper has called for a relaxation on land-use rules, including a review of heritage protections to open up inner-city housing options, and for “greater scrutiny” on regulations that limit development.

Notably, the Grattan think tank says all residential land in capital cities should be available for dwellings up to three storeys, and up to six levels within walking distance of major