We have been busy in the last month working feverishly towards the impending deadline for the passage of the residential zoning redefinition. You may or may not be aware that residential zones across Melbourne are to be redefined into three categories, ranging from the highly restrictive to the relatively liberal in terms of new development.
The impact of the redefinition of residential zones is that landholders with reasonably large blocks of land, easily able to support sensitively designed multiple residential development, may suddenly find themselves restricted to two dwellings per lot. The implications of this for the value of their land holdings are obvious.
As such, we have been working hard to get some town planning applications resolved and submitted before the cutoff date in June. If you find yourself reading this, and you own a property in an existing residential zone, and you had considered redevelopment, it is worth your while to check out your local Council website to see whether the redefinition of zones will affect you.
If in doubt, drop us a line, and we can help.