There are a few key infrastructure projects around Australia that are doing great things for property investors, due to the increased employment and local infrastructure spending within the areas associated with the projects.
Melbourne to Brisbane Inland Rail
$9.3 Billion Project
VIC, NSW, QLD
The Melbourne to Brisbane Inland Rail link will deliver a new freight network that will serve Australia for the next decade and beyond keeping pace with the increasing freight demands [1, 2].
The new eastern Australian rail freight link will not only connect Australia’s 3 largest cities but will also help connect farms, mines, and ports to global markets creating major economic activity for our nation.
As the Australian population continues to grow, the 1,700km fast freight network will shift more goods from the road onto rail resulting in less congestion and fewer carbon emissions on our roads.
Construction work on the rail is well underway and planning began in 2006 and completion is expected in 2026.
Approximately 16,000 workers will support the building of Inland Rail and another 700 workers will be needed once operational.
It is estimated that more than 90% of construction jobs will be based in regional areas across QLD, NSW, and Victoria.
Central Coast Roads Package
$86.5 Million Project NSW
As Sydney property prices continue to become out of reach for many homebuyers, demand for coastal markets within New South Wales continues to grow on the back of affordability, lifestyle aspects, and improved infrastructure.
In 2019, Planning NSW indicated the following projections;
The population of the Central Coast region is estimated to increase by 95,250 people between 2016 and 2041, from 336,600 to 431,850.
The Central Coast will continue to attract working-aged people and their families from areas including Sydney and Newcastle.
The Central Coast Roads Package will help support the upgrade of 29 individual road projects across the Central Coast region including upgrades, rehabilitation, and resurfacing of roads [3, 4].
The project will deliver key benefits for Central Coast residents and commuters including improved road safety and improved travel efficiency.
The Australian Government has put forward a total contribution of $86.5 million.
Construction on the package commenced in February 2020 and completion is expected mid-2025.
Shoalhaven Hospital Redevelopment
$434 Million Project
NSW
The NSW Government has announced Shoalhaven District Memorial Hospital will be redeveloped to significantly improve healthcare services for residents of the South Coast [5].
The redevelopment of Shoalhaven Hospital is in addition to the NSW Government’s $251 million commitment to rebuild Shellharbour Hospital.
Premier Gladys Berejiklian comments that this record health investment for the region is going ahead.
Ms Berejiklian states:
“We have a record hospital rebuilding program where we are creating world-class hospitals and creating thousands of construction jobs across NSW.
“This incredible investment is only possible because of the strong economic management of the NSW Liberals & Nationals.”
The redeveloped will see significant community benefits, including:
Expanded elective surgery
More surgical, acute medical, and aged care beds
Expanded maternity services
More operating theatres
Increased capacity in the Emergency Department
Expansion of outpatient and ambulatory care zones
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Jarryd Gauci – Property Investment Consultant
P: (02) 9939 3249
Disclaimer: When considering purchasing a property, it's always prudent to seek the advice of an appropriately qualified professional to determine which strategy is most appropriate for your individual circumstance.
References:
[1] Inland Rail ARTC
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