This article is from the Australian Property Journal archive
THE Perth CBD needs urgent reforms to help double the city’s population in order to stimulate CBD businesses and address the current record office vacancies.
Property Council WA executive director Lino Iacomella said that of the 200,000 people that work in the CBD, less than 20,000 live within the boundaries of the City of Perth.
“The exodus of people leaving the CBD at the end of each working day, creates traffic chaos on the freeways and leaves the CBD lacking the night-time economy that makes other major cities.
“The City of Perth currently has plans to promote Perth CBD as a vibrant residential area, but much more is needed to be done,” he added.
Iacomella proposed several measures that the state government must prioritise if Perth is to “compete with the suburbs and provide an appropriate mix of housing options in the CBD.”
“These reforms are now urgent if we are to create the right commercial, retail and residential offerings to encourage people to move into the CBD,” he said.
The recommendations include the introduction of stamp duty concession for off-the-plan apartments, similar to those applicable for traditional house and land packages.
Suggestions also included a fast-track of strata title reforms to enable community titles and improve strata management; full private certification of building pemits; and legislation to allow local authorities – including the City of Perth – to bring building owners, tenants and financiers together to agree on loan-tem to enable the financing of upgrading old and vacant CBD buildings.
Iacomella said the recent new stock of apartments and medium to high-density housing is limited to opposite ends of the CBD, and there had not been enough new supply to make Perth’s residential population anywhere near its target.
“We need more, better quality and affordable housing options spread around the Perth CBD to create new precincts that attract people and new businesses into the CBD,”
He the government’s plans for a second high school in the CBD would require well-designed and affordable housing options for families as well as those looking for inner-city living.
Australian Property Journal
