Homes could be $100k cheaper in 10 years with one change to zoning rules, Australian report finds

Allowing three-storey townhouses and apartments to be built across all residential land would unlock more than 1m homes in Sydney alone, according to modelling

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Homes could be $100,000 cheaper over a decade if Australia's capital cities dramatically overhaul their zoning rules to allow three-storey townhouses and apartments to be built on all residential land, according to a new report from the Grattan Institute.

Calling for an end to the age of nimby-ism" and a housing policy revolution", the independent thinktank said Australians were keen to embrace apartment and townhouse living, especially if it meant access to more affordable and well-situated homes.