Property Council NSW Executive Director Katie Stevenson said the report confirmed what property owners and investors have been saying for years – outdated and duplicative approvals are a handbrake on vibrancy and investment.
"The DA has become a stop sign to progress. Businesses wanting to extend trading hours or add live music face tens of thousands of dollars in costs and months of delays. The Property Council has consistently argued that streamlined approvals are essential to unlock investment and vibrancy and this report backs that call.
The report found NSW businesses lose more than $120 million in sales each year due to delays, while extending trading hours can cost an average of $30,000 in reports and fees.
Ms Stevenson said safe and reliable late-night transport is equally critical, and that the findings also underscored the need for stronger, more consistent precinct governance models.
"Public transport is economic infrastructure. Frequent, affordable late-night services are essential if we want people to stay out later and get home safely. Treating transport as part of the 24-hour economy will pay dividends for both business and community.
"For our 24-hour economy to succeed, our members have long called for frameworks that reduce duplication, cut delays, and provide long-term certainty for investors - exactly the kind of reforms highlighted by the NSW Productivity and Equality Commission.
Ms Stevenson said the report backed the Property Council's concerns about the level of engagement with property owners and investors in the recent vibrancy reforms.
"Our submission to the NSW Productivity Commission identified a gap in communication to the property sector about what reforms mean in practice. The report takes that up directly, reinforcing the need to educate and engage owners and investors as partners in activating precincts.
Ms Stevenson said social infrastructure must also be part of the planning equation.
"Night-time vibrancy is about more than bars and restaurants. Community hubs, cultural venues, and education and health services are all vital in making precincts thrive. The policy settings should encourage these assets to be considered early in the planning process.
"From small bars to community arts spaces, grassroots operators bring our precincts to life. Cutting red tape and reforming outdated conditions will help them flourish and deliver the cultural and economic vibrancy our cities deserve."
