Land banking does occur!
Families living in 'dirty, violent' caravan parks on NSW Central Coast as housing crisis worsens (msn.com)Mr Mehan said another issue to consider was land banking.
He said in The Entrance township alone there were six blocks of land that Central Coast Council had approved for the development of around 600 units that were still sitting empty.
"The DAs [development approvals] were approved many years ago, one of them 20 years ago," Mr Mehan said.
Central Coast Council said there were a "large number" of DAs that had been approved across the region but never constructed, including residential apartment buildings in Gosford's city centre.
A council spokesperson said they had limited powers to prevent this from happening.
The state government has identified land banking as a key barrier to the housing crisis and a parliamentary inquiry into "zombie DAs" and land banking has been established to address the issue.
