THE property boom times are well and truly over, with a new report showing development applications in the Tweed have plunged by more than 50 per cent over the last six years.
The report, presented by planning and regulation director Vince Connell at the last council meeting, found council’s planning department had received 594 DAs in the year to March 2013, in line with the 711 DAs received in 2011-’12.
These numbers represented a massive drop from the 1623 DAs received by council in 2007-’08 at the height of the property boom and reflected the waning property market across Australia.
“These figures are certainly characteristic of the broader residential market,’’ Mr Connell told the Tweed Coast Weekly.
“More so in the higher end, the medium density developments like units, there has certainly been a big drop-off in applications.
“What is occurring now, is quite typical across the country.’’
Mr Connell said while activity in the smaller residential developments, including renovations and new dwellings had remained relatively constant in recent years, there had been a big drop in activity since the boom times five or six years ago.
He said activity on the Tweed Coast, particularly at Casuarina and Salt and smaller pockets at Black Rocks and Seabreeze in Pottsville, was keeping the market afloat, while business and commercial developments were at a standstill.
Mr Connell said the annual report, compiled as a requirement of the NSW Planning and Infrastructure Department, provided valuable data for future planning.
“This is a good indicator and is something all councils are conscious of in terms of not only a downside for the private sector but also for councils which have had a much greater decline in DA fees and all the income councils were gaining from in the buoyant times,’’ he said.
“Developer contributions have fallen dramatically, so each council has really had to examine its business operations; we don’t have the money for new public works, we have had to cut down what we were doing.’’
Mr Connell said staffing resources in the department had altered accordingly, with some positions downgraded and staffing levels under review.
The report further found the reduced workload had allowed council’s planners to catch up on a backlog of unresolved and complex DAs – some dating back up to 10 years – and allowed for speedier assessment times in keeping with state averages.
