Scrapping 86,000 new car parking spaces could save $5.2bn and drive down rents, Grattan report finds

About 40% of parking spaces under apartments in Australia sit empty, yet strict planning rules mean more unwanted spots continue to be built

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Australia risks squandering $5.2bn by building 86,000 unwanted car parking spaces in the next five years, according to research by the Grattan Institute.

The report recommends urgent reform to planning rules, including scrapping a requirement for a minimum number of car parking spaces per bedroom for new builds.