Government strategy gets Sydney moving

Work-on-Sydneys-transport-infrastructure-will-provide-jobs-in-the-near-future_157_92439_0_14101977_300Real estate in Sydney has been one of the nation’s most desirable assets for a while now and plans are being put in place to keep the New South Wales capital a hot spot for growth and development. According to a recent release from the Property Council of Australia, a new strategic plan for Sydney’s growth is welcome news for those who hold commercial or residential assets throughout the city.

Minister for Planning Pru Goward has developed a strategy that will combine national and regional funding to completely transform Western Sydney, providing more jobs and better infrastructure.

Property Council’s NSW Executive Director Glenn Byres noted that the plan would greatly enhance life in Sydney, especially for those out west.

“There is clear upside from enhancing Sydney’s standing as a global city and preparing now for the jobs, housing and infrastructure we need,” said Mr Byres.

“The Sydney CBD should be retained as our economic jewel in the crown, but it makes sense to also foster emerging centres and precincts in the west.”

Mr Byres went on to say that closing the job divide in Sydney’s west is a top priority for the city and that leveraging new projects in the area would go some way to solving that problem.

In a December 14 statement, Ms Goward noted that the strategic implementation of the proposed changes would introduce 8,000 jobs in the near future and up to 57,000 over the next three decades.

“This is smart planning as we work to rebuild NSW –¬†locking in employment land and investing in the infrastructure we need to secure jobs in Western Sydney now and into the future,” said Ms Goward.

It was noted by the Property Council that in order to fully implement all aspects of the plan, the Greater Sydney Commission would need the latitude to implement change without having to go through a lot of red tape.

Property buyers looking to break into the Sydney market would do well to look at developing areas out west, as future progress could drive up values in the years to come.

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