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

Australia 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. For instance, in Sydney, a new one-bedroom apartment is required to come with an average of 0.6 car spaces. …