In March 2018, the Reserve Bank of Australia released a discussion paper 'The Effect of Zoning on Housing Prices' by Ross Kendall and Peter Tulip. The paper includes the bold and eye-catching claim that the zoning effect for a typical Sydney house equates to $489k and for an apartment is $399k.
The paper is controversial. Some have questioned whether the measured ‘cost of zoning’ represents a share of residential property value attributable to this aspect of landuse planning. Others have queried whether the discussion paper is fully across the nature of modern Australian planning systems. The authors remain confident of their findings.
To shed more light on this debate, the Halloran Trust and the City Futures Research Centre at the University of New South Wales invited Peter Tulip, supporters and critics of the paper to a public event at the University of Sydney.
Dr Tulip provided a summary of the paper and panellists commented on the paper’s approach and findings.
Australia’s cities have shifted from centres of manufacturing and industry to the drivers of a globalised economy fueled by knowledge, creativity and innovation
This forum explores how two nations with shared traditions but very different systems of urban governance and planning mediate the supply of new housing, and the roles played by government, planning authorities, developers, property owners and the public in this process.