New proposed NSW Medium density housing code

Hi,
What are your thoughts on the proposed Medium Density Housing code that aims to make it easier to build low rise medium density housing, such as terraces, town houses, etc ? I think the proposal would allow such to go through more easily through complying development without going through Council's DA, as well as subdividing into torrens titled town house.

Would this only apply to existing R3 (medium density) zoned land that is not heritage conservation, etc? So the impact would be relatively small, because most properties are R2 (low density)?

Do you think this has potential to uncover "extra value add" potential in already peaked Sydney property prices? And I mean for those that have no experience in developing sites? I suppose if such a proposal comes on as new rule, there will be more project builders who would provide such service for suitable land?

 

I would think that a lot of R2 zoned land would become R3 zoned. (If this is the same proposal as the Lucy Turnbull one a few days ago)

Edit: this is 146 pages. Tldr

http://www.greatersydneycommission....Sydney/a-plan-for-growing-sydney-2014-12.ashx

Greater Sydney Commission -

 

Dear @Daydreamer: Is this what you were referring to?

New NSW proposal may bring terraces back to Sydney - Property Update

 

Yes. So this would only apply to existing R3 zoned land, right ?

 

I would expect they would rezone areas where it make sense to do so. Whether it be currently R3 or not. i.e. It would be placed close to transport, shops, etc or other places that would suit increased density.