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State of Markets - NSW August 2012

By Staff Reporter

Essential information, plus expert insight on what is shaping the national property market...

NEW SOUTH WALES

Kempsey bypass improving local community access

A key stage of the Kempsey Bypass project, part of a $618 million funding commitment by the Australian Government, was recently completed.

NSW Deputy Premier Andrew Stoner and duty senator for Cowper, Matt Thistlewaite, said its completion was a significant boost for the small suburb.

“The opening of these two overpass bridges will help provide vital access to the small, nearby community and will also bring the Kempsey Bypass project a step closer to completion,” Mr Stoner said.

Mr Thistlewaite added that the overpasses are evidence that residents of smaller suburbs will not have their accessibility overlooked.

The bypass is set to open by mid-2013, and investors who are looking long term should note that it will connect with a planned 17km Tintenbar to Ewingsdale stretch of road.

High speed rail a ‘game changer’

The second and final stage of research into the viability of a NSW east coast rail network is underway. Over the next year, research conducted during the first stage, as well as for this second part of the report, will be further analysed.

If built, the new infrastructure would have a significant effect on demand for property in many areas along the route.

The study will help to determine the specific alignment of the track and station locations, calculate precise costs, evaluate patronage projections and consider the financing options.

Widespread community interest has been generated, with over 316,000 copies of the report downloaded so far.

High speed rail is said to be a ‘game changer’ by the federal government, which believes it will more effectively integrate regional and metropolitan communities.

Journey times could be reduced to as little as three hours between Sydney and Brisbane, and to 40 minutes between Sydney and Newcastle with travelling speeds of up to 350km per hour.

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Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
FAIRLIGHT 46.02%
2.
CASUARINA 44.36%
3.
THE ENTRANCE NORTH 41.09%
4.
ULTIMO 40.67%
5.
LAVENDER BAY 40.2%