NSW Budget 2018–19 overview — What property investors need to know

First home buyers

While existing investors did not show up in the budget papers, first home property buyers did, who may transition into first-time property investors.

The budget papers stated that transfer duty relief and grants would be made available to first home buyers. The relief would see first home buyers saving an average of $14,500, with additional benefits being made available to bring those savings up to $34,361.

Health

In financial year 2018–19, the New South Wales government plans to spend $8 billion on health, which includes:

• New work to begin at:
  
  • Liverpool Hospital
  • Griffith Base Hospital
  • Dubbo Cancer Centre
  • Bankstown-Lidcombe Hospital emergency department
  • St. George Hospital’s birthing suites and theatres
  • Rouse Hill’s next stage of construction
• Starting the Rural Health Infrastructure Program which includes upgrades to:
  
  • Tenterfield Hospital
  • Dungong Hospital
  • Scone Hospital
  • Gloucester Hospital
• Continuing hospital constructions in:
  
  • Grafton
  • Inverell
  • Manning
  • Coffs Harbour
  • Cooma
  • Bowral
• Planning for future construction at:
  
  • John Hunter Hospital
  • Neepean
  • Sydney Children’s Hospital Westmead
  • Albury Hospital
  • Canterbury
  • Bankstown
  • Shoalhaven at Nowra
  • Hornsby
  • Goulburn ambulatory care
• $23.7 million to employ 200 paramedics and 12 call centre staff
• $2.1 billion for mental health services which includes:
  
  • $100 million for special community mental health support
  • $82.5 million for improving admitted and community-based services

Schools

In financial year 2018–19, the New South Wales government plans to spend $6 billion on schools over the next four years, which incluldes:

• Starting the construction of 40 new and upgraded school projects
• Starting the planning for over 20 new schools and upgrades
• Continuing construction of over 110 new and upgrading school projects
• $197.8 million over the next four years to extend the Start Strong program, which includes:
  
  • Extending it to three-year-olds
  • $42.1 million in grants for constructing 4,800 new community preschool places
• $500 million over five years for cooling equipment for schools;
• $160 million for planned maintenance of schools
• $30 million over four years to open school playgrounds and sporting facilities for community use during weekends and school holidays
• $39.2 million over four years to replace and upgrade PCYCs, which includes:
  
  • Constructing a new club in the Windsor area
  • Replacing the clubs in:
    
    • Wagga Wagga
    • Walgett
    • Dubbo
  • Upgrading the clubs in:
    
    • Albury
    • Bourle
    • Griffith
    • Kempsey
    • Moree
• $285.2 million over six years to fund 100,000 fee-free apprenticeships and addressing skills shortages in areas of demand

Infrastructure

In financial year 2018–19, the New South Wales government plans to spend $15.3 billion on infrastructure, which includes:

• $3 billion reservation, including $28.1 million to fast-track the planned railway between the Sydney CBD and Greater Parramatta
• $4.3 billion for Sydney Metro, which includes:
  
  • $2.4 billion to link North West Sydney to Chatswood
  • $1.9 billion to link Chatswood to Bankstown
• $1.8 billion to continue construction of WestConnex
• $1.2 billion to continue upgrading the Pacific Highway, which includes continuing construction between Woolgoolga and Ballina and planning for the Coffs Harbour bypass
• $438.9 million to upgrade roads to support the upcoming Western Sydney Airport at Badgerys Creek, which includes continued construction of Bringelly Road and The Northern Road between Narellan and Penrith
• $282.8 million to plan or deliver missing links on motorways and major routes in Sydney, which includes the first stage of the F6 extension, NorthConnex, Sydney Gateway and the Western Harbour Tunnel and Beaches Link
• $281.3 million to address road congestion in Sydney and to continue construction on the M4 Smart Motorway
• $258 million to the first stage of Parramatta Light Rail
• $11.6 million to planning upgrades to Heathcote Road, which includes the widening of the Woronora River Bridge and widening the road between Holsworthy and Voyager Point
• $1.5 billion to bus services
• $1.2 billion to public transport concessions
• $133 million for upgrading transport infrastructure
• $87 million for Community Transport and Home and Community Care services
• $23 million for ticketing, licensing and concessions
• $15.6 million to the Growth Services Program
• $640 million to the More Trains, More Services program to upgrade the capacity of the network, particularly for the T4 and T8 lines

Sports, arts and culture

In financial year 2018–19, the New South Wales government plans to spend $1.5 billion on sports, arts and culture, which includes: