Scrapping 86,000 new car parking spaces could save $5.2bn and drive down rents, Grattan report finds
A Grattan Institute report suggests that Australia could save $5.2 billion by not building 86,000 unnecessary car parking spaces over the next five years. The report highlights that about 40% of parking spaces in apartments remain empty, indicating a surplus due to strict planning rules. It recommends reforming these rules to reduce costs and alleviate rent pressures for residents.
- ▪The Grattan Institute estimates that Australia risks wasting $5.2 billion by constructing 86,000 unwanted car parking spaces in the next five years.
- ▪Approximately 40% of parking spaces under apartments in Australia are unused, prompting calls for changes to planning regulations.
- ▪Eliminating minimum parking requirements could significantly lower the cost of new housing and reduce rents, particularly for lower-income households.
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Australia risks wasting $5.2bn by building 86,000 new unwanted car parking spaces in the next five years under strict planning rules, Grattan Institute research finds. Photograph: Harlz/Getty Images/iStockphotoView image in fullscreenAustralia risks wasting $5.2bn by building 86,000 new unwanted car parking spaces in the next five years under strict planning rules, Grattan Institute research finds. Photograph: Harlz/Getty Images/iStockphotoTransportScrapping 86,000 new car parking spaces could save $5.2bn and drive down rents, Grattan report findsAbout 40% of parking spaces under apartments in Australia sit empty, yet strict planning rules mean more unwanted spots continue to be built Get our breaking news email, free app or daily news podcast Andrew MessengerTue 19 May 2026 11.00…
Excerpt limited to ~120 words for fair-use compliance. The full article is at The Guardian — World.
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