Victoria's planning system faces need for reform
A review of the Victorian planning system has indicated that a number of changes need to be made in ...
A review of the Victorian planning system has indicated that a number of changes need to be made in the state in order to support growth.
The Victorian government has released the Ministerial Advisory Council's review, which shows that a growing population and slowdown in the economy have created the need for property investment.
Jennifer Cunich, executive director of the Property Council in Victoria, said that government, industry and community expectations need to be aligned in order to make the planning process more consistent.
"Planning policy and supporting strategies must provide for business investment and employment opportunities in Victoria's regional centres as well as in the growth corridors of metropolitan Melbourne," she commented.
Such measures could encourage commercial property investment throughout the state and help secure its future.
Last month, research from the Property Council of Australia found that Victoria has an especially large property industry, contributing $39.6 billion to gross state product.
It is also the largest single contributor to taxes in the state, as it adds around $5.4 billion or 40 per cent a year to tax revenue.