It’s a case of ‘wait and see’ what effect sweeping new draft rezonings will have on property prices after Byron Shire Council (BSC) signed off on changes to the LEP (Local Environment Plan) last Thursday.
Potentially most at risk is the value of properties in coastal areas, says Belongil property owner John Vaughn. In Council’s Thursday public access he asked mayor Jan Barham, ‘What impact will the new zonings have with mortgages and property prices?’ Mayor Barham said she would take the question on notice.
And when asked by Echonetdaily about potential impacts on property prices, BSC’s executive manager of planning Ray Darney said it was ‘impossible to quantify what impact, if any, the draft LEP may have on any land values’.
‘Land values can be affected by a broad range of factors…’ he said, adding that values are not a planning matter for consideration under the Environmental Planning and Assessment Act 1979.
The Local Environmental Plan is being overhauled by the state and a new template provided to councils requires that the current land zonings are transferred to a ‘like’ category. ‘The current 7(f2)Urban Coastal Lands zone is proposed to be zoned as E2 Environmental Conservation Zone within the new draft LEP,’ says Mr Darney. ‘The E2 Zone within the new draft LEP, together with clause 4.2A, is consistent with the current 7(f2) Zone and features the same land usages and provisions as per the current Byron LEP 1988.’
He says the proposed objectives of the E2 Environmental Conservation Zone are to protect, manage and restore areas of high ecological, scientific, cultural or aesthetic values. Additionally it’s to prevent development that could destroy, damage or otherwise have an adverse effect on those values. It also aims to identify and protect environmentally sensitive coastal land and land likely to be influenced by coastal processes, and to prevent inappropriate development that would be adversely affected by, or that would adversely affect, coastal processes.