The Perth City Council is waving new incentives at developers and property buyers as the municipality plans to unlock a surge in inner-city living.
In its latest announcement, the City of Perth says it will offer new incentives to unlock and encourage inner city living and development within the Perth Central Neighborhood.
Under the plan, which applies specifically to the Central Perth Neighborhood:
- Buyers of new residential properties which are approved after 1 July 2023 will be able to access a 50 percent reimbursement on residential rates across three consecutive years – a saving of almost $1,000.
- All City fees relating to residential development applications will be waived; and
- The City’s fee components for building and occupancy permits will be waived for new residential developments.
The changes will apply for seven years from 1 July 2023 until June 30, 2030.
The Council has also committed $200,000 for a multi-year campaign which aims to showcase Perth’s offering as a living destination.
Finally, the City will advocate for state and federal governments to consider opportunities for land tax and stamp duty concessions; streamlining of end-to-end development processes; and amending eligibility criteria for related development funds, home-owners and rental schemes.
The latest moves come as the City of Perth is planning for an influx of residents over coming decades and aims to unlock inner city living in order to create a vibrant capital city that is liveable, sustainable and prosperous for future generations.
The City’s Strategic Community Plan 2022-2023 and its recently adopted Local Planning Strategy have set a target of growing the resident population of the City of Perth local government area from just over 29,000 in 2021 to more than 55,000 by 2036 and 90,000 by 2050.
At the core of this plan is the Central Perth Neighbourhood (see map below), where the strategies say that benefits will be unlocked by delivering more housing only a few steps from the City’s central facilities, business centre and social and main attractions.
City of Perth Lord Mayor Basil Zempilas said the incentives focus on the Central Perth Neighbourhood on account of the area’s potential to deliver high impact benefits that will sustain the city into the future.
“Putting thousands of new residents on the doorstep of the City’s central facilities, businesses, and main attractions unlocks a wealth of opportunities,” Zempilas said.
“From the viability and growth of existing and new businesses, to streetscaping, greening and making our city a safer and more enjoyable place to live, work and play, increasing opportunities for city living goes to the heart of community aspirations for a thriving and vibrant capital city.
Zempilas encouraged developers to take up the incentives and embrace the opportunities which the city has to offer.
“For all developers and buyers out there, this is your chance to get in on the ground floor as we open up a new era of liveability, sustainability and prosperity for the City.”