Developers are walking away from Western Sydney projects as infrastructure charges and taxes push costs so high that many housing developments are no longer financially viable, worsening the housing supply crisis.
Tom Forrest, Chief Executive Officer of Urban Taskforce Australia, said urgent reform of the fees, taxes and charges applied to new housing is needed, warning, “You can’t build houses without the infrastructure, but the thing is there is no feasibility for developers to fund this anymore, so the federal government need to step in.”
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