Infrastructure is a key component to drive property market performance. It can both improve the liveability of an area; therefore generating demand on well-positioned properties; and generate employment for an area, which increases demand on well positioned dwellings.
Infrastructure development is one factor that can assist property investors to direct their attention. However, while important, infrastructure is only 1 of 7 key drivers for a strong property market.
The population Australian capital cities continues to grow at a rapid pace, which is increasing congesting and driving record levels of spending on major infrastructure projects across the country.
More than $123bn of construction work has commenced since 2015, with a committed pipeline of more than $200bn. This boost in infrastructure is aimed to accomodate for the growing population in Australia, which is expected to grow by 24% to 31.4m by 2034.
Metronet | Perth | $4.2b
Metronet located in Perth, will deliver 72 kilometres of new passenger rail and up to 18 new stations. A massive step forward for Perth as a city.
Western Sydney Airport | Sydney | $5.3bn
The Western Sydney Airport is due for completion in 2026. The first precinct, the 1,055-hectare Aerotropolis Core, is set to deliver 60,000 jobs and 8,000 homes when fully-developed. The 1,120-hectare Northern Gateway will deliver 22,500-plus jobs and 3,400 homes.
Cross River Rail | Brisbane | $5.4bn
The Cross River Rail is pressing forward with 18 worksites across the city. The underground project is part of Brisbane’s broad infrastructure pipeline, which includes the $3 billion Queen’s Wharf Project, new Brisbane Airport Redevelopment and Brisbane's Quarter. This project is also playing a large part in the city's improving employment base and push for commercial development.
Metro Tunnel | Melbourne | $11bn
The Melbourne Metro rail tunnel will enable more than half a million extra passengers to use Melbourne’s rail network during peak periods every week.
The transport project, which is building twin 9 kilometers rail tunnels through the central business district is scheduled for delivery in 2025.
Sydney Metro | Sydney | $22bn
The leading Sydney Metro is currently Australia's largest public transport project, delivering 31 metro stations and more than 66 kilometres of new metro rail is built across three stages; City and Southwest, Northwest, and West.
Adam Duffy - Partner at Meridian Australia
P: (02) 9939 3249
References
[1] Urban Developer