The reforms include:
- compensation for the disruption and upset for home owners being forced to relocate will be increased by $50,000 dollars to $75,000.
- a fixed negotiation period of six months.
- Home owners who stay in their house after it has been acquired will no longer have to pay rent for the first three months.
- The Valuer General will now have to provide justifications for the value of the offer and homeowner will have 90 days to respond.
- Each home owner will be appointed a personal manager.
The increased compensation will be backdated to February 2014, but the rent exemption came into effect from October 18.
There are 16 major government authorities across 5 different departments who are authorised to acquire land for a public purpose (such as a new road or rail line).
80% of acquisitions are made by agreement between the landowner and the government acquiring authority, without the need for compulsory acquisition. — Only 5% of acquisitions proceed to the Land and Environment Court.
Around 400 homes are acquired per year. The full article is available at Property Council of Australia web site here.