Announced this week, 11,000 new homes will be built in the north-west suburbs of Sydney, alongside new stations on the metro line. The project will provide greater accessibility and convenience for existing residents, as well as support future growth in the area. The development is part of a larger boom in the north-west, with the area already seeing a large amount of growth across property, employment and infrastructure.
Sydney's north-west suburbs are increasingly becoming a more popular place to live. High prices and congestion in the inner city are driving both developers and residents into the outer suburbs, and the comparative peacefulness of the north-west, along with high levels of liveability and high-class facilities, makes it a very attractive area for many buyers and rental residents.
10 year project
The construction of the 11,000 new dwellings will be a joint initiative between Landcom and Sydney Metro, with the overall project aim to provide places for communities to thrive in these high potential areas. Each stage of the development plan will not only provide housing, but also has provisions for commercial properties, retail and community facilities. At completion, residents will be able to live, work, shop and relax, all within an easy access vicinity. It's expected that the project will be rolled out in a tiered format, taking up to 10 years to complete in full.
The suburbs that will be receiving a makeover as part of the north-west growth plan include Tallawong, Kellyville, Bella Vista, Norwest, Castle Hill, Hills Showground, Epping and Cherrybrook. Existing residents are pleased with the news, as property prices are expected to increase with the introduction of the metro stations and the accompanying new facilities.
The Blacktown City Council, The Hills Shire Council and Hawkesbury City Council all identify Sydney's north-west growth area as part of their plans and are supportive of development in the area. The opening of new stations along the metro provides central focal points and will ensure accessibility is optimal, and transport options sufficient to support the expected growth.
The NSW state government has also released an Implementation Plan to cater for the north-west growth area, with a vision to provide housing and facilities for 250,000 new residents. The Department of Planning and Environment website states that the aim is to: "create vibrant, attractive and well-connected communities, where people can live and work with good access to public transport, community facilities, open spaces, shops and cafes."
The proposed construction of new homes by Landcom and Sydney Metro to coincide with the growth of the metro line provides a streamlined approach to ensuring that development is in line with government initiatives, and is also sustainable. Over its 10 year rollout, the programme will deliver 11,000 new homes that include a diverse range of housing to cater for a wide range of residents, along with retail and commercial space, and parks for community use.
If it isn't already on people's radar, Sydney's north-west is sure to become a must-watch area for property buyers in the coming years.
Finance for home and land or off-the-plan packages
Securing finance to purchase a property in an up and coming suburb can be tricky, particularly with Sydney property valuations dropping recently. For your best chance of a home loan or investment loan approval, it’s best to speak with an experienced mortgage broker.
Preeti Kowshik is Mint Equity’s Western Sydney mortgage broker and has over 15 years experience in finance, and knows the complexities of the local market. Contact Preeti today on 0466 539 108 to discuss your finance requirements.
Community information session
A community information session on Tallawong Station Precinct South will be held this month.
Saturday 28 July
3 – 5pm
Rouse Hill Town Library
Rex Money room