The city of South Perth and City of Melville have started public discussion on a radical change in the Canning Bridge area.
My property is 1110m2 and zoned R20/30 with maximum 2 storey (7m) house. Current value is around $1.4M.
The rezoning is proposing maximum 6 storey with probable zoning of R80/100. There is also rear laneway access to the property too.
Here's a map of the planned amendments:
http://www.southperth.wa.gov.au/Documents/Planning/Precinct-Studies/Canning-Bridge-Rail-Station-Precinct/Draft-Canning-Bridge-Precinct-Vision-Fig-1-and-2-maps.pdfwhat rough ballpark figures should I be expecting regarding property value rerating should rezoning occur?
Are you aware of any other localities in Australia where a massive rezoning to higher density has occurred?
Thanks,
John.Increases in residential density is high on the planning agenda for WA. It is part of the focus on sustainability and reducing impacts on climate change, such as reducing the dependance on private vehicle transport. There is a massive population growth projection for Perth and ultimately the days of sprawling suburbs of large lots of land are numbered.
You should note that the work currently being done on the Canning Bridge Precinct is strategic planning; it is not in itself a rezoning proposal – this will come later once its been knocked into shape and could take some years before being implemented and you being able to develop at the higher density.
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