Psaros / News

Perth property developer calls for controlled densification

Leading property developer Danny Psaros has called for an increase in “controlled urban density” to help avoid suburban sprawl and provide a sustainable future as Perth’s population continues to grow.

Of the four largest capitals, Perth has seen the fastest growth over the past 40 years – growing by around 1.2. million people since 1973 and projected to overtake Brisbane by 2028. (Australian Bureau of Statistics).

“With these huge growth figures in mind, the most socially and environmentally sustainable way for the future is to build new homes that are more compact and closer together, preserving communities and allowing more people to enjoy public spaces,” said Mr Psaros.

“Higher dwelling density cities use less energy per person than their more spread out suburban equivalents so densification is a far more environmentally sound option than the urban sprawl.”

“Added to this is the fact that agricultural and natural bushland is protected and the reliance on cars for transport is reduced."

Mr Psaros said more compact cities also had increased “liveability” - the level of convenience with which people can conduct their daily lives increases with far greater accessibility to amenities and public transport.

With this focus in mind, Psaros recently announced it has secured three new sites in Perth with a total estimated project value in excess of $125 million.

Psaros CEO Danny Psaros said the acquisitions were an indication of Psaros’ confidence in the market despite recent reports of an oversupply of new apartments in Perth.

“At present, there is a lot of public comment about a potential oversupply of new apartments across Perth. We do not subscribe to that view but rather believe there is a population and social need in Perth for new, more economic and sustainable development types” said Mr Psaros.

Psaros conducted analysis, which looked at a range of factors including population growth, pent-up demand, probability of delivery, dwelling occupancy as well as propensity for apartment product, which suggests a shortfall of apartments in Perth over the next five years.

“With a 100% track record of on-time delivery, Psaros is looking forward to continuing to deliver in this market,” said Mr Psaros.