Property Market Information: New Sydney plan offers to boost city growth

By the resi financial blog team, 24 December 2014

Property Market Information: New Sydney plan offers to boost city growth

A new plan released by New South Wales Minister of Planning Pru Goward offers some insight into the future development of Sydney. The Plan for Growing Sydney outlines a number of key points that will help develop the city and keep up with the demands of a rising population. 

Ms Goward said the focus will be on both developing amenities - such as health care, education and public transport - and aiding the growth of housing supply across the nation. These are essential aspects of a metropolitan area that will contribute significantly to the future of the city and state's economy. 

The plan has been supported by the Housing Industry Association's New South Wales Executive Director David Bare, who said the meeting of housing supply demands for the future should be an important point of action for those living in the city.

"A Plan for Growing Sydney delivers on this aspect because the entire strategic plan is based on meeting the future needs of Sydney's growing population," said Mr Bare in a December 15 statement. 

"The focus on urban renewal and infill in a planned fashion is long overdue in housing delivery in Sydney. Increasing the opportunities for housing type diversity and enabling subdivision of existing homes for higher density outcomes is also welcomed." 

He went on to say that the proposed co-ordination between local government, government agencies, the private sector, communities and existing infrastructure would be an essential part of making these developments a success. 

With the delivery of over 8,000 new jobs to Western Sydney to help develop road infrastructure alone, the city's development needs to have a plan in place that helps facilitate this growth. 

Now could be a great time to start looking into your own home loan options for Sydney real estate. Get in touch with a resi loan specialist today to investigate the finance options available to you. 

Categories: Home Loans, Property Investment