Water levy cut another win for the home affordability

08 November 2007

Todays announcement that increases in Sydney Water developer charges will be partially rolled back is a win for home affordability according to Aaron Gadiel, Chief Executive of the NSW Urban Taskforce.

The Government has announced that the maximum increase in developer charges over last years fee will now be capped at $5,000 per single dwelling. The reductions range from $306 to $12,752 per single dwelling (see table on second page for attached PDF).


The charges will be back-dated to 1 July 2007, and those who have already paid at the higher rate will be refunded.


This is another win for home buyers, Mr Gadiel said. This follows the State Governments announcement last month that home buyers will no longer have to pay for over-the-top council projects such as wellness and massage facilities, beach volley ball courts, yoga and pilates facilities and media/sound studios.


This is great news for struggling families looking to find an affordable home, Mr Gadiel said.


The NSW Urban Taskforce has been asking government to examine the impact of their charge on home buyers.


Its great to see that weve been given a fair hearing and that home buyers will be the winners.


These changes will make it easier for developers to sell new residential lots to mum and dad home buyers at an affordable price.


The NSW Urban Taskforce is a property development industry group, representing NSWs most prominent and important developers, builders and property financiers. The NSW development industrys annual turnover is $35 billion and employs 180,000 people, accounting for six percent of the States total employment. It is the fifth largest contributor to the State economy.

Media Enquires:
Aaron Gadiel,
Chief Executive Officer,
Phone: 0417 477 904  or (02) 9238 3955

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