Top 3 Infrastructure Projects Coming To Sydney
It’s no secret that Sydney is a rapidly growing city. The Australian Bureau of Statistics tells us that, between 2012 and 2013, the Greater Sydney area made up slightly less than 80 per cent of the total population growth of New South Wales. According to the federal government, just its western region is already Australia’s fourth-largest city.
With population growth, there tends to come infrastructure developments, as governments attempt to plan to alleviate the pressure and strain population growth places on existing public services and housing. This is advantageous for a number of different types of individuals in the property market:
- infrastructure development makes purchasing a house in more remote, affordable areas more practical
- it also tends to push up the value of housing in surrounding areas
- sellers could see a much bigger return if they hold off until the development is completed.
Given these facts, it might pay to get to know some of the major infrastructure projects coming to, or already under construction, in Sydney.
WestConnex is “the largest integrated transport and urban revitalisation project in Australia”, according to project’s official webpage. The multi-billion dollar project will widen the existing M4 motorway to Parramatta,and add new sections to the city’s existing motorway network, connecting the M4 and M5 to the airport and Sydney CBD.
Construction on the first stage of the project will begin in 2015, and once completed in 2023, will bring a variety of benefits: Slashing travel times, increasing the convenience of travel for those in the west and bringing 10,000 jobs to the city.
Assorted rail projects
There are a number of rail-related infrastructure developments coming to Sydney. There’s the North West Rail Link, which will extend the existing rail network into north-west Sydney’s Rouse Hill, as well as the Sydney Light Rail program. The latter has already seen some progress, with the Inner West Light Rail project finished in March 2014. On June 4, a new CBD and South East Light Rail initiative was approved.
Once completed, not only will navigability in the city be easier, but it will also help make Sydney an even more sustainable city, by reducing residents’ use of the bus system.
Northern Beaches Hospital
One announcement that was more recent but no less monumental was the Northern Beaches Hospital project. The $1 billion facility will be built on a 6.5-hectare greenfield site and provide top health care to the area, plus create 700 jobs.
Along with containing a massive 50-space emergency department, as well as 14 operating theatres, it will also contain an inpatient mental health unit as well as intensive and critical care facilities. Locals, who previously had to drive outside the Northern Beaches area for high-quality health care, will have a top-notch hospital right on their doorstep by 2018.
Any buyers will want to pay close attention to these projects, as they may serve as a useful guide for where to buy property in the Harbour City in the future.