Real Estate Planning for Sydney's Future
A draft Metropolitan Strategy for Sydney to 2031 has been released, which will detail how the city will grow over the next two decades.
A draft Metropolitan Strategy for Sydney to 2031 has been released, which will detail how the city will grow over the next two decades.
In addition to fostering economic growth through the creation of jobs, real estate in Sydney will also be a priority, with New South Wales planning and infrastructure minister Brad Hazzard saying that 545,000 new homes would be supported through the development of infrastructure.
"Sydney is expected to have an additional 1.3 million residents by 2031, up from 4.3 million people now.
"The NSW government will expand housing in greenfield areas while also renewing established suburbs. We aim to create up to 625,000 new jobs by 2031 - that is up 33 per cent on the old target."
Mr Hazzard added that the previous government's approach did not have the desired success, with a lack of infrastructure failing to foster growth in housing starts, which fell to a 50-year low.
Priorities for the government as far as ensuring growth in jobs and infrastructure include Parramatta, Macquarie Park and the Norwest Business Park.
The minister explained that the government wants to see jobs created in western Sydney, as it would mean commuting times would be lowered and congestion would be reduced.