There is good news for Sydney: according to the most recent forecasts by the New South Wales government, an epic housing construction spree – the largest in the entire history of the city – is about to happen.
Analysis has been made on the figures gathered by the Department of Planning and Environment, and the outlook is tremendously positive for both new home seekers and new home builders. The data revealed the scope of this unprecedented 84 per cent boost in construction: by 2021, around 185,000 (or more) new dwellings will be built in Sydney, with emphasis on specific areas including Parramatta, Blacktown, Sydney City, and Canterbury-Bankstown. These areas will take in 35 per cent of new townhouses and apartments as a solution to what Planning Minister Rob Stokes calls as the “war against sprawl.”
The “War against Sprawl”
It is no secret that there is a lack of affordable homes in New South Wales, specifically Sydney. This shortage led to housing properties only being constructed in the fringes of the city.
To resolve this issue, the Government has been “spending $73.3 billion on infrastructure,” according to Mr. Stokes. The government is also prioritising development “on the right areas,” which include land that has already been residentially zoned. The reason? Mr. Stokes explained that former governments drew lines on maps all the time though that didn’t result in any extra yield as developers couldn’t do anything. This was because there weren’t any roads or rails or sewerage pipes.
For people who are seeking for a new place to live in Sydney, building on areas with infrastructure provides the convenient perks of having utilities, amenities, and transportation that are already existing or have already been planned, making it easier for new homeowners to feel right at home.
The Breakdown: What Parramatta, Sydney City, Blacktown, and Canterbury-Bankstown will Get?
According to the forecasts, Parramatta will have the largest growth in residential properties: 21,450 dwellings will be built on the council area. At second place is the council area of the City of Sydney, with 18,250 new properties. Blacktown is next, with 13,600 new dwellings. As for Canterbury-Bankstown, 12,200 new houses will be added.
In the words of Mr. Stokes: “When you look at the top areas, it is Parramatta, it is the City of Sydney, it’s Blacktown, (which) includes some greenfield release, but also some infill areas.”
More Good News
It isn’t only Central Sydney that is getting all the attention in this house building spree; Liverpool and Camden, which are Western Sydney towns, are also included in the development. In the next five years as well, home builders will add 9,574 new dwellings to these two areas.
All in all, both Central and Western Sydney are on the brink of a housing construction boom that is growing ten times the rate elsewhere in the city – something amazing to look forward to if you are thinking of moving to these areas to build a new house.
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Written May 2017
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