Local Government (councils) affect the development potential of our properties. Councils rule how land can be used and in Development Control Precincts (DCPs) and with Heritage Listed Properties can decide on whether existing homes can be moved or demolished. These rules could affect you more than you realise.
Allocations within suburbs are called zones. They can differ from council to council, but overall they usually fall into four main categories: Residential, Commercial, Industrial and Agriculture/Rural.
Residential zones are typically divided even further – into areas for low, medium or high density living. To find out what your block is zoned or to check the neighbour’s block you can go online on the local council’s websites. They should give you an indication of what can and can’t build.
Zoning can have an impact on any property and, therefore, any investor or home owner. Council change there
As with every rule or regulation they’re often changed or amended to keep up with the times and this can sometimes be to your advantage and at others it can be detrimental.
Following the floods in 2011 a comprehensive study was done and flood levels were changed in many cases. Some of the local councils are still going through the process of community consultation to balance the issue.
Changes in development potenital could mean you are sitting on a valuable asset. Splitter blocks are popular at the moment with small first time developers/investors trying their hand at building for profit. Also, in the right area, investors can pay above market value to get land they can build multi level dwellings on.
Zoning is a guide to what’s going on in your area and sound up to date research is important and could just help you cash in or avoid any nasty development surprises.