Scrapping 86,000 new car parking spaces could save $5.2bn and drive down rents, Grattan report finds

About 40% of parking spaces under apartments in Australia sit empty, yet strict planning rules mean more unwanted spots continue to be builtGet our breaking news email, free app or daily news podcastAustralia risks squandering $5.2bn by building 86,000 unwanted car parking spaces in the next five years, according to research by the Grattan Institute.The report recommends urgent reform to planning rules, including scrapping a requirement for a minimum number of car parking spaces per bedroom for new builds. Continue reading...