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

Australia risks wasting $5.2bn by building 86,000 new unwanted car parking spaces in the next five years under strict planning rules, Grattan Institute research finds. Photograph: Harlz/Getty Images/iStockphoto

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.