Scrapping 86,000 new car parking spaces could save $5.2bn and drive down rents, Grattan report finds

About 40% of parking spaces under apartments in Australia sit empty, yet strict planning rules mean more unwanted spots continue to be built Get our breaking news email , free app or daily news podcast Australia risks squandering $5.2bn by building 86,000 unwanted car parking spaces in the next five years, according to research by the Grattan Institute. The report recommends urgent reform to planning rules, including scrapping a requirement for a minimum number of car parking spaces per bedroom for new builds. Continue reading...

Original source: Guardian