The NSW Government has acknowledged that the biodiversity offsets scheme should be improved to bring more certainty and transparency of pricing and is undertaking important and significant work in an attempt to reduce the price volatility under the BCF specifically. The new methodology offers potential improvements in that regard. Unfortunately, UDIA does not support the new charge system method in its current form on the basis that costs are likely to be higher, and the practical interaction with the system will add uncertainty, undermining housing supply and making housing less affordable. UDIA recommends ways to reduce the charge itself and improve the charge system’s practical aspects. We also urge that the methodology be appropriately reviewed by IPART.
