Urban development planned for north-west

The-precincts-should-expand-the-opportunities-for-housing-in-the-Sydney_157_79526_0_14100792_300Sydney’s west is already one of the most in-demand areas for housing in the rapidly growing city, and the release of three new urban activation precincts (UAP) in the north-west is set to make this even more so.

The start of the month saw the government make the announcement, with UAPs going to three different North-West Rail Line stations in the area. Any property buyers in the precincts should therefore have easy and convenient access to effective public transport, which will no doubt drive up the value of nearby real estate as time goes on.

“The scale of investment in the new rail line is unprecedented so it makes sense to leverage off it with new hot spots for growth,” commented New South Wales Executive Director Glenn Byres in an August 1 release.

“Escalating population growth in our west means we need to hasten investment in new housing and employment opportunities.”

Mr Byres went on to note that the initiative would improve housing choice, supply and affordability in Australia’s biggest city. With the Sydney property market remaining tight for both buyers and renters, an injection of new residential housing options will no doubt be welcome to many.

The Urban Taskforce warned, however, that any developments in the three UAPs would have to take into consideration urban densities and appropriate building height.

“Sydney will need to double its 1,673,800 homes over the next 50 years and railway stations & town centres will need to take a lead role in providing appropriate urban densities,” said Urban Taskforce Chief Executive Chris Johnson in an August 4 statement.

This translated to the need for three more new stations, while residential and mixed-use areas would have to incorporate residential towers into their planning, Mr Johnson continued.

With so much development on the way, now may be a good time for buyers looking for a home in Sydney to pounce.

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