Once the Government has been elected, investors are able to return to the market and make a more informed decision for their portfolio.
A buyers agent first home buyer service can be useful when policy changes affect grants, affordability and competition from investors.
What Was the Impact of the NSW State Election Results?
The policies of NSW Premier Gladys Berejiklian’s party were not directly related to Real Estate, Buyers, or investors however, the party’s main policies were directly related to major infrastructure policies on Roads and Railways which will impact the value of neighbouring properties as well as increase the value of properties that will have greater accessibility. These infrastructure projects will impact both existing home owners as well as investors seeking to buy an investment grade property.
The upgrades to infrastructure will open up new opportunities to invest in suburbs which were once undesirable due to lack of transport or access into the major centres as the demand for owner occupiers in these suburbs increases.
A Sydney home buyers agent can help buyers assess which suburbs may benefit from improved transport, accessibility and long-term owner-occupier demand.
What NSW Road Infrastructure Projects Could Affect Property Values?
We have summarised the main NSW infrastructure projects under the elected party:
Roads:
- $1.2billion roadworks to ease congestion, over 500 new smart traffic lights, smart motorways, digital parking signage, drones, and digital messaging.
- $1billion invested into regional council roads and bridges.
- Expansion of the Great Western Highway from Katoomba to Lithgow to 4 lanes.
- 14,000 new weekly bus services to be added across the network.
- Over 4,000 carparks in Sydney Metro Northwest Suburbs.
- Opal Park & Ride introduced at 10 stations.
What NSW Rail Projects Could Support Property Demand?
Railways:
- $6.4billion towards new high frequency Sydney Metro West rail line between the Sydney CBD and Parramatta. (Construction commences 2020).
- More trains and tracks are expected to be implemented across the state.
- Total of 41 new Trains being added (24 already delivered)
- 8 new express services on the T1 Western Line during peak times.
- First stage of the North-South Metro Rail Line connecting St Mary’s station to Western Sydney Airport.
- Metro South West extension connecting Bankstown to Liverpool.
- Completion of Metro North West Line
- Completion of Metro City and South West line connecting Sydney CBD to Bankstown.
Working with a home buyers agent can help buyers look beyond election headlines and assess how infrastructure, lending policy, affordability and suburb-level demand may affect their next property purchase.
If you are looking for a Buyers’ Agent to assist you with purchasing a home or investment property in the Sydney, Brisbane and Newcastle regions, please get in touch with Aus Property Professionals here or give us a call on 1800 146 837!
