Apartments in NSW could be $200k cheaper if the state made a few key changes

A new report argues NSW apartments don't have to be as expensive as they are.A new report titled “Future Apartments: A Reform Agenda for Feasible Housing Delivery” by Urban Institute of Development (UDIA) NSW argues that the state’s apartment crisis is increasingly about feasibility, not just approvals. The report notes that modernising NSW's Apartment Design Guide could reduce delivery costs by up to $82,000 per apartment. Picture: GettyIt finds that a series of targeted reforms to the state’s Apartment Design Guide, parking rules and development contribution settings could cut delivery costs by up to $200,000 per apartment. A key focus of the report is modernising NSW’s Apartment Design Guide (ADG). It found that updating the ADG could reduce delivery costs by up to $82,000 per apartment. The ADG is a resource that aims to provide consistent planning and design of new residential apartments across NSW. The report also found that supporting above-ground parking in appropriate locations could save a further $100,000 per apartment, while deferring development contribution payments until project completion could reduce financing costs by up to $27,500 per dwelling. "The current Apart...