So I see in the NSW mini budget that the Inner West of Sydney gets the beginning of a Metro and the North West looses all its public transport improvements save a few Busses they were already getting and also lost is any chance of a Metro (any rail?) being built there. The North Shore gets slugged with a congestion tax! While the outer west continue to get their trip into the City subsidised. The Jet cat will be gone for Northern Beaches residents too and no sign of anything for that area on the horizon.
Reese has said no new Heavy Rail Infrastructure for Sydney at all and Metro is the way they are going. Federal Labor seems to support this. NSW Labor have canned the idea of the Metro heading to the North West and instead it will go to Paramatta. This will be a very expensive project and will basically take a huge chunk of our Transport Infrastructure Money both State and Federally and will only service certain areas. Obviously no coincidence that they are Labor area's but still. The NSW Government has also asked for a lot of money for road Infrastructure Improvements for the west and these will not be tolled like the majority of Sydney projects for other areas.
So what does all this mean for the future of Sydney Property with the extra 2+ Million people expected to move here and the envisaged huge increase in people using Public Transport in the future? For growth will the West be the better area to buy now with all its easy and much cheaper Transport options? The inner west will have so many options now for city travel, is it a case of get in now before property price increase? How will the West Metro affect property prices from Strathfield to Parramatta? Money to be made? I would assume this would also mean alot more commercial investment in these areas with the easier access? More people now closer to work?
On the flip side will this mean for the rest of Sydney relying on ageing and crowded Infrastructure? Or non existent in some areas? Will the North West sector continue to loose value as it becomes full of crowded housing estates dependent on cars and heavily "taxed" to use the roads? Will there be less interest in commercial property in areas like Chatswood and North Sydney when there are better options to get to the CBD, Parrammatta and newly planned Homebush Commercial development? Interesting times ahead it seems. Will this affect how you invest and where you buy if you are not in these areas all ready? Or do you guys think these changes wont really matter? Would be interested to hear what others think.
Reese has said no new Heavy Rail Infrastructure for Sydney at all and Metro is the way they are going. Federal Labor seems to support this. NSW Labor have canned the idea of the Metro heading to the North West and instead it will go to Paramatta. This will be a very expensive project and will basically take a huge chunk of our Transport Infrastructure Money both State and Federally and will only service certain areas. Obviously no coincidence that they are Labor area's but still. The NSW Government has also asked for a lot of money for road Infrastructure Improvements for the west and these will not be tolled like the majority of Sydney projects for other areas.
So what does all this mean for the future of Sydney Property with the extra 2+ Million people expected to move here and the envisaged huge increase in people using Public Transport in the future? For growth will the West be the better area to buy now with all its easy and much cheaper Transport options? The inner west will have so many options now for city travel, is it a case of get in now before property price increase? How will the West Metro affect property prices from Strathfield to Parramatta? Money to be made? I would assume this would also mean alot more commercial investment in these areas with the easier access? More people now closer to work?
On the flip side will this mean for the rest of Sydney relying on ageing and crowded Infrastructure? Or non existent in some areas? Will the North West sector continue to loose value as it becomes full of crowded housing estates dependent on cars and heavily "taxed" to use the roads? Will there be less interest in commercial property in areas like Chatswood and North Sydney when there are better options to get to the CBD, Parrammatta and newly planned Homebush Commercial development? Interesting times ahead it seems. Will this affect how you invest and where you buy if you are not in these areas all ready? Or do you guys think these changes wont really matter? Would be interested to hear what others think.
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