Building boom hits Western Sydney

Tightening-rental-vacancies-in-Melbourne-could-provide-potential-investors-with-lucrative-options--_16000816_800520690_0_0_14093556_300The construction of new dwellings is booming in Western Sydney, recently released figures show.

New South Wales’ Department of Planning and Environment put forward numbers showing that 100,000 new homes have been built in the area since 2011.

This number is set to grow even further, with the NSW government rezoning or releasing another 6,600 homes in suburbs across Sydney for precinct planning. The measure has been taken to keep up with growing demand for housing in the city.

“In Western Sydney there is a massive housing boom occurring and the unlocking of up to 6,600 new housing lots at three sites will boost housing supply and make homes more affordable,” NSW Premier and Minister for Western Sydney Mike Baird said in a June 7 release.

“The [government] is fast-tracking the release and rezoning of land for housing in Western Sydney, while delivering the critical infrastructure needed to support these new homes.”

The housing lots are located close to infrastructure and transport facilities, making them highly attractive in Australia’s biggest city.

The land is being rezoned in three sites: Marsden Park North, which will see up to 4,000 new homes built close to the new Cudgegong Road Station; Ashlar in Black town, which will see up to 1,200 new homes constructed between the Blacktown CBD and the Marayong train station; and Redbank in Richmond, where up to 1,400 new houses will spring up, near Richmond Station.

The news positions Western Sydney as a prime location for future property investment. This building activity is only the beginning of the government’s attempt to keep up with the demand for housing in the region by fast-tracking approvals for new homes and renovations. There will likely be much more construction taking place in the area as time goes on, and property buyers will increasingly look towards it to find affordable, conveniently located dwellings.

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