Grattan report: Scrapping parking spaces could save $5.2bn
A Grattan Institute report reveals that Australia could save $5.2 billion by eliminating plans for 86,000 unnecessary car parking spaces over the next five years. The study highlights that about 40% of existing parking spaces in apartments remain empty and calls for reforms to planning rules regarding minimum parking requirements for new developments.
Why it matters
Reducing unnecessary parking spaces could lower construction costs, potentially leading to decreased rents for tenants.
Read the full story at The Guardian AU→