Curtis Associates Buyers Agent Sydney service: Sydney’s CBD, Eastern Suburbs, Lower North Shore, Inner West, Northern Beaches and Sutherland Shire.
Cogent Advice Pty Ltd trading as Curtis Associates © 2024.
Do DA’s (literally “Development Applications” but a shorthand misnomer for development consent) add value to a property?
The answer is yes but often, no.
This typically upbeat mainstream article focuses only on the yes’s without mentioning the no’s which include:
• lots of property buyers may not have the same development idea as the vendor so still face the cost and risk of amending the consent or starting afresh
• uncontroversial consents, like a ‘one of many in the street rear or second storey extensions’ add little or no value
• the value of a consent is likely to diminish in NSW the more the State Government relaxes planning controls – it is not a static concept
• many developers shun approved sites because the consent, especially if it was controversial, has already sucked out some of the profit:
http://www.domain.com.au/…/the-trump-card-homeowners-are-p…/
Curtis Associates Buyers Agent Sydney service: Sydney’s CBD, Eastern Suburbs, Lower North Shore, Inner West, Northern Beaches and Sutherland Shire.
Cogent Advice Pty Ltd trading as Curtis Associates © 2024.