Infrastructure Boom Drives Prices
The national pipeline of infrastructure work has grown by $15 billion in the past 12 months, according to the Federal Government’s Infrastructure Market Capacity report.
Buyers’ agent, Miriam Sandkuhler of Property Mavens says property investors should factor in big infrastructure projects, as they generally drive property prices.
Victoria is spending $85 billion on infrastructure over the next four years and Sandkuhler predicts Melbourne Metro Tunnell will have the biggest effect on prices, particularly around new stations such as Arden.
New South Wales is spending $110 billion with a new rail line from the Western Sydney Airport into the Sydney to have a big impact.
“The rail link to Badgerys Creek will be a boon for some suburbs along the new rail line running south from St Marys to Luddenham,” she says.
South Australia is spending $19 billion including additions to the Women’s and Children’s Hospital.
Sandkuhler says suburbs next to it, such as Sturt and Bellevue Heights, will feel the benefits of price growth.
Queensland is spending $38 billion, including the Cross River Rail.
“It should prove a boon for prices in suburbs currently underserviced by public transport. These include Woolloongabba and Dutton Park in Brisbane’s inner south and around Herston north of the river,” Sandkuhler says.
Western Australia’s spend is $34 billion with Metronet, delivering new rail lines and stations.
“The new lines of particular note to investors are the Morley to Ellenbrook line and the Thornlie to Cockburn link,” Sandkuhler says.
