Golden ticket: Where homeowners are banding together for massive profits

The good book said to love thy neighbour, but nothing feeds the friendship more than a multimillion dollar windfall.Neighbours banding together to sell to a developer isn’t a new concept, however changes to zoning rules - particularly in NSW - are making it far easier for some communities to cash in on the housing shortage.The NSW government has made big changes to its planning laws, and some homeowners are cashing in big time. Picture: realestate.com.auThanks to their group efforts, some neighbours have walked away with up to $8 million more for their homes than if they’d sold separately. Why it’s happeningAustralia simply doesn’t have enough homes, at least not where we need them most. With the suburban sprawl stretched beyond practicality for many cities, the traditional quarter acre block - about 1000sqm - has become a lucrative goldmine in some inner-ring neighbourhoods.As the nation’s population clock recently ticked over to 28 million, governments at all levels have been working on ways to provide more housing in areas with the greatest demand.The NSW Low and Mid-Rise (LMR) policy, which came into effect in February 2025, allows apartment buildings of up to six storeys to be...