October 20, 2021
Why Develop Property in Sydney’s North West
Why Develop Property in Sydney’s North West
The suburbs of Sydney’s North West and those of the newly zoned North West Growth Area are becoming an increasingly popular place to live and work. Once upon a time, what is essentially a part of Greater Sydney, did not even seem as though it was a part of our great sprawling city as it was so distant, however, in recent times and with a heavy investment by both state and federal governments on infrastructure and transport projects such as the North West Metro line, Northconnex, and Westconnex, the North West is now more connected and closer than ever before. Suburbs such as Kellyville and Rouse Hill were once seen as part-country as opposed to metropolitan with large areas of open land, which have been heavily developed and inhabited over the past decade; these areas even have their own small central business districts and town centres.
An increase in residential development over the previous decade shows absolutely no signs of slowing down with an estimated increase of 33,000 dwellings and 250,000 new inhabitants within the next five years. The significant increase in residential development will have a flow on effect with an increase in commercial developments to accommodate the residential growth an example of in recent times is the development of the prominent Nor-West Business Park which hosts the head office of Woolworths Australia among many others.
The Benefits of Property Development in Sydney’s North West
With the increase in population growth in the North West and especially within The Hills Shire over the past decade and growth in high-rise apartments and further commercial developments of major shopping areas in suburbs such as Castle Hill, and predicted future growth, now more than ever is a great time to invest in both residential and commercial developments in the North West. As the general population of Sydney increases and shifts outwards into the more fringe areas and as these areas become more interconnected by improved transport the area will become even more prime for development.
Where there were once open lands of very little at all, there will be large scale land and housing subdivisions, with North Kellyville being a prime example of this having occurred over recent years. As land becomes more limited and prized and transport hubs continue to grow and expand, multi-level and high rise developments will become more prominent as these areas begin to populate. With the increase in population the next logical step will be for commercial developments such as small-scale shopping centres and precincts as well as office buildings and complexes to take shape to cater for the needs of the growing and shifting population.
Areas of Opportunity For Property Development in North West Sydney
The NSW Government is actively working with including planning and consultation with a number of the Local Area Councils that make up the North West Growth Area, such as Blacktown City Council, The Hills Shire Council and Hawkesbury City Council, with the Hills shire Council alone having invested an estimated $177 million in infrastructure projects in the 2019/2020 financial year. This includes the planning of procuring and rezoning land for commercial development purposes and larger scale residential development projects as well which is likely to include both large scale housing developments and high rise developments to cater for the increasing expected population growth. A number of the suburbs that are expected to see a dramatic increase in both commercial and residential development in the near future and are part of the North West Growth Area, include:
- Rouse Hill
- Box hill
- Marsden Park
- North Kellyville
Investments in Infrastructure
Recent and ongoing infrastructure investments have contributed to the North West becoming a more desirable place to live with a significant increase in facilities and amenities in the area with heavy investment from local, state, and federal governments. Some of the recent and proposed infrastructure investments include:
- Sydney Metro North West – Australia’s largest public transport project connecting the North West to Chatswood and Sydney lines, with a budget of $8.3 billion and project duration of just under five years and includes the building eight stations and transport hubs across the North West
- North Connex – The 9 kilometre tunnel can carry up to 100,000 vehicles per day and cost $3 billion to complete
- Rouse Hill Town Centre – with an estimated cost of $170 million, the development is expected to create a capacity to support and extra 7,000 jobs with more than 18,000 square metres of commercial and retail space and residential developments including 2,500 apartments
The North West has seen and expects to continue to see a massive growth in population and heavy investment in infrastructure from both government and private enterprise, with large scale land acquisitions taking place and investments in ongoing transportation projects making the area the perfect place to acquire land for both residential and commercial property developments . HYG are experts in large scale residential and commercial development and construction projects and will look forward to being a part of many property development projects in Sydney’s North West in the near future and beyond.