Residential Rezoning Change and impact on Values

Discussion in 'Property Experts' started by adityagc, 13th Jul, 2020.

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  1. adityagc

    adityagc Active Member

    Joined:
    21st Nov, 2018
    Posts:
    27
    Location:
    Melbourne
    Hi all,
    I own a PPoR on a 500 m2 block land in Kellyville NSW. The council has sent a latter it proposes to change the land zoning from Medium Density (R3) to Low Density (R2). Most houses in and around my street are free standing establishes houses around the 500m2 land component.
    Does this proposed change have any impact on my house value? If yes, positive or negative?

    Thank you very much.
     
    adityagc, 13th Jul, 2020
    #1
  2. Thomacino

    Thomacino Well-Known Member

    Joined:
    9th Nov, 2018
    Posts:
    174
    Location:
    NSW - Sydney
    No material change.
     
    Thomacino, 13th Jul, 2020
    #2
    adityagc likes this.
  3. Anthony416

    Anthony416 Well-Known Member

    Joined:
    14th Dec, 2015
    Posts:
    538
    Location:
    Sydney
    Normally they go the other way, R2 to R3, which is usually good news.......
     
    Anthony416, 13th Jul, 2020
    #3
  4. tedjamvor

    tedjamvor Well-Known Member

    Joined:
    22nd Oct, 2019
    Posts:
    218
    Location:
    Melbourne
    R2 Low Density Residential - Sutherland Shire Council

    I'm assuming this is constant across all LGAs in Sydney. If so, looks like the opportunity to develop the land may be reduced greatly.
     
    tedjamvor, 13th Jul, 2020
    #4
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