As New South Wales pushes forward with significant infrastructure developments, the Sydney suburbs are set for a transformation that spells big opportunities for home buyers and investors alike, PropTrack reported.
The federal government has pledged a whopping $1 billion to secure a rail corridor that will connect Leppington to the new Bradfield City Centre, effectively bridging the gap to the Macarthur region.
This move aims to enhance connectivity, linking these suburbs directly to Sydney’s CBD and providing much-needed access to the upcoming airport.
Enhanced connectivity
Ross Grove, the Property Council’s Western Sydney regional director, emphasised the positive impact of this investment.
“This funding is a great first step in a major project that will boost confidence in the growth of these regions,” Grove said.
He highlighted the need for further investments to ensure the completion of this ambitious project, which promises to streamline transport across the southwest corridor of Sydney.
Potential economic and real estate impact
According to Eleanor Creagh (pictured), REA Group senior economist, the area could see a noticeable increase in property values due to improved transport links.
“Historically, suburbs in gentrifying regions that benefit from transport upgrades tend to experience property value appreciation, allowing investors and homeowners to capitalise on long-term price growth,” Creagh said.
Furthermore, the enhanced connectivity is likely to attract more renters, potentially allowing landlords to command higher rents.
While this may be well and good for the Cumberland Basin, WHY is there so much cash being spent there when the NSW Regional rail network is crumbling into disrepair?
This $bn could be better spent in the regions, improving connectivity and revitalising lines now in mothballs. The new CAF project is worthwhile, but is so limited with so little rollingstock ordered.
The SYD-MEL line needs to be duplicated throughout.
6 Long CAFs are needed on the Main South to Melbourne.
Ditto CAFs for the Main North to BNE.
The SYD-CBR line needs duplication Joppa Jctn to CBR serviced by at least 5 short CAFs.
The Main North to Wallangarra needs to be reinstated north of Armidale, and be serviced by 4x4Car CAFs.
The Moree line needs 4×3 Car CAFs.
The Main West needs to be reopened Beyond Dubbo to at least Nyngan and be serviced by at least 6x3car CAFs.
The “Castlereagh” Line Wallerawang to Coonabarrabran needs the be reopened and be serviced by 5x2Car CAFs.
– and so on.
Regards, M