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

Delivered on Tuesday (19 June), the NSW budget for the 2018–19 financial year has a large assortment of new and continued initiatives that could raise the local economies of a number of suburbs in the Western Sydney region, but there was no mention of any measures that directly targets existing local investors.

Infrastructure:

In financial year 2018–19, the NSW government plans to spend at least $7.2 billion on infrastructure, which includes:

• $100 million to the planning and develop the final business case for the North-South Rail Link;
• $3.6 billion to the 10-year Western Sydney Infrastructure Plan, which includes:
  
  • Widening Bringelly Road between Camden Valley Way and The Northern Road as well as providing better bus facilities, improved safety and more reliable travel times;
  • Upgrading the Northern Road between Narellan and Penrith;
  • The M12 Motorway linking the M7 Motorway to the upcoming Western Sydney Airport;
  • o Upgrading the Great Western Highway intersection at Glenbrook; and
  • o Widening the SmithfieldSmithfield, NSW Smithfield, QLD Smithfield, SA Road to four lanes.
• $28.1 million to the Restart NSW reservation for Sydney Metro West to construct the next underground metro railway to connect the Sydney CBD and Greater Parramatta;
• $2.4 billion to the delivery of Sydney Metro Northwest;
• $258 million to the first stage of the Parramatta Light Rail;
• $20 million to planning for the second stage of the Parramatta Light Rail;
• Over $780 million to road infrastructure, which includes:
  
  • $439 million from the Western Sydney Infrastructure Plan to road upgrades;
  • $130 million to the M4 Smart Motorway;
  • $21.5 million to the WindsorWindsor, NSW Windsor, VIC Windsor, QLD Bridge over the Hawkesbury River in Windsor;
  • $19 million to start constructing the Jane Street and Mulgoa Road upgrade in Penrith;
  • $22 million to upgrading Memorial Avenue from Old Windsor Road to Windsor Road;
  • $26 million to the first stage upgrade of CampbelltownCampbelltown, NSW Campbelltown, SA Road;
  • $10.5 million to upgrading Mulgoa Road between Blaikie Road the M4 Motorway; and
  • $7 million to the planning and business case for the New Hawkesbury River crossing at RichmondRichmond, SA Richmond, VIC Richmond, NSW Richmond, TAS Richmond, NSW.

Cultural and social activities:

In financial year 2018–19, the NSW government plans to spend at least $387.8 million on cultural and social activities, which includes:

• Funding to the Western Sydney City Deal, which includes:
• $150 million to the Western Sydney Parkland City Liveability Program;
  
  • $30 million to the Western Sydney Parkland City Housing package;
  • $59.5 million to constructing the Western Sydney Centre of Innovation in Plant Sciences;
• $183.7 million to the Western Sydney Stadium;
• $240 million to relocating the Powerhouse Museum to Parramatta as well as expanding the storage at the Museum Discovery Centre;
• $24.5 million to the Parramatta Road Urban Amenity Improvement Program; and
• $5.6 million to continuing the Western Sydney Parklands park improvement program.

Health

In financial year 2018–19, the New South Wales government plans to spend at least $3.6 billion on health, which includes:

• $765 million to the first stage of the redevelopment of Westmead Hospital;
• $740 million to the Liverpool Health and Academic Precinct;
• $659.2 million to the first and second stages to the redevelopment of the Blacktown and Mount Druitt Hospital;
• $632 million to the second stage of the redevelopment of Campbelltown Hospital;
• $550 million to Nepean Hospital;
• $95 million to the first stage of the redevelopment at the Children’s Hospital in Westmead;
• $91.5 million to the Lidcombe forensic pathology and Coroner’s court;
• $72.3 million to the Westmead Hospital car park;
• $26 million to the Nepean Hospital car park; and
• $18.1 million to the Blacktown Hospital car park.

Education

In financial year 2018–19, the NSW government plans to spend on education, which includes:

• Funding for planning for new schools, which includes:
  
  • A new Edmonson Park High School;
  • A new Edmonson Park Public School; and
  • A new Westmead Primary School.
• Funding for planning for school upgrades, which includes:
  
  • Liverpool Boys High School; and
  • Liverpool Girls High School.
• • Funding to continue work on new schools, which includes:
  
  • Arthur Phillip High School;
  • Parramatta Public School;
  • Oran Park High School;
  • Jordan Springs Public School;
  • Bella Vista Public School;
  • North Kellyville Public School;
  • O’Connell Street Public School;
  • Hurlstone Agriculture High School;
  • Gledswood Hills Primary School;
  • Mainsbridge School; and
  • Yandelora School
• Funding for upgrades at existing schools, which includes:
  
  • Picton High School;
  • Fairvale High School;
  • Bardia Public School;
  • Schofield Public School;
  • Parramatta West Public School;
  • Ajuga School;
  • Campbell House School;
  • Glenfield Park School;
  • Greystanes Public School;
  • Riverstone High School;
  • Canley Vale High School; and
  • Carlingford Public School.

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

Sasha Karen

Last Updated: 22 June 2018 Published: 22 June 2018