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Caution Needed if Buying R40

The City of Stirling is attempting to restrict multi-residential development on R40 sites.  In recent times developers have been using plot ratio on R40 sites to construct 1 and 2 bed apartments on normal suburban lots.  As a result, prices on such sites have achieved strong growth.  If the proposal to restrict higher density apartments takes effect some investors may be restricted to villa or townhouse developments which will not be as viable.  The proposed change if implemented may see prices fall on such sites due to the restrictions on development.

The City of Stirling is proposing a change that will not allow multi-residential dwellings on zonings less than R60.  If you have bought a R40 site recently and you should consider getting your planning approval through the City sooner rather than later.

If you own such a site and you wish to discuss your options contact Rob Walker via email here.

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