Big changes to the suburban landscape in Sydney and regional areas have started to happen. Back in February 2025 the NSW Government altered planning controls across the state to allow new residential developments such as terraces, townhouses and high rise apartment blocks up to six storeys within an 800 metre radius of 171 town centres and transport hubs.
The intention is to increase both housing availability and affordability in areas previously dominated by houses with both backyards and trees! A list of the 171 urban areas affected include Annandale, Artarmon, Bondi Junction, Chatswood, Cremorne, Crows Nest, Double Bay, Edgecliff, Kensington, Lane Cove, Leichhardt, Lindfield, Maroubra, Neutral Bay, Randwick, Rose Bay, Roseville, St Ives and Waverton to name a few. A full list can be found below:
In my local areahttps://www.planning.nsw.gov.au/policy-and-legislation/housing/low-and-mid-rise-housing-policy/site-selection, Rose Bay, I have been contacted by a number of people, many elderly, who live within walking distance of shops and have been inundated by numerous property developers offering ridiculously high sums to sell their properties. In some cases, the amounts are almost double what the properties were worth only a few months ago.
These developments concerning changes to planning controls affect not only the owners of houses but their families, especially where the owners are elderly and their adult children are brought into the mix for support and advice.
The process often starts with a real estate agent contacting property owners saying they have been approached by a number of property developers who are all bidding to buy adjoining blocks of land to eventually build a high rise apartment block. If the owner agrees on the price (and it will be astronomical) then the owner and developer will usually enter into a Put and Call Option Agreement.
Such an Agreement gives the developer the opportunity to buy the property at any time during a set period like 18 months. This allows the developer to carry out its due diligence and apply for and obtain a Development Approval. If the developer fails to exercise its option then the owner can still force the developer to buy the property if desired. Once either party exercises its option, a Contract will be issued and settlement will take place normally six weeks later.
However, how formerly leafy suburban streets with rows of houses will look like after being replaced by rows of high rise apartment buildings is an issue for others to comment on. Progress? We’re going to find out. In any case, legal advice should definitely be sought before entering into any arrangement with a developer.
May 2025