Public transport developments in Sydney
Mon September 26, 2016
As Sydney's population continues to grow and the property landscape changes alongside it, it's more than clear that new infrastructure is needed in order to keep up with the movement outwards towards new areas of the sprawling metropolis. Of course, schools, hospitals and the like are a key part of this, but perhaps most important of all are new public transport developments that will ensure that even as the city expands, people can still get around the urban region.
There are certainly plenty of big projects underway at the moment, with the Sydney Metro perhaps the most obvious example, but what about the supporting services? After all, the goal is to make every aspect of transport in Sydney easier.
In this article, we'll take a look at two you may not have heard of and how they could impact the property market.
Everybody living or renting near the Sydney CBD knows that population density is incredibly high.
1. Sydney Light Rail Program
Everybody living or renting near the Sydney CBD knows that the population density is incredibly high - .id Consulting identifies 89 areas where this exceeds 20,000 persons per square kilometre. To make living in these areas valuable, there needs to be quick, reliable transport options. That's what the Sydney Light Rail Program is reinforcing, with a raft of upgrades to existing lines as well as extensions and new service areas.
For those who own or are looking to buy property in inner Sydney, this is great news, and will increase the value of any investment. Best to get in now though, before the prices creep up even further.
2. Sydney's ferry fleet
Despite the focus on rail, there are plenty of other ways to get around the city, and a journey by water may just be one of the most picturesque. Accordingly, the local government has dedicated funds towards the revamping of Sydney's ferry fleet, with six new boats set to be in service by the end of 2017.
As well as this, there'll be new wharves including a hub at Barangaroo which could well see the suburb become one of Sydney's most desirable.
It's important to remember that these are only two of the many different projects currently getting underway throughout the city. Once complete, the combination of large developments and supplementary enterprises should result in a more connected city - even as new suburbs continue to spring up on the outskirts.
For more information on all things Sydney property, get in touch with Laing+Simmons today.