Blacktown’s Infrastructure. Will it keep up with its property growth?
Blacktown’s Property growth may go through the roof in the next few years, but can Blacktown Council keep up?
The area has been calling for more infrastructure to keep up with demand and Blacktown Council may run the risk of stunting it’s growth!
Does Blacktown Council have the answers that will help the push for property growth?
First things first, lets tackle real estate growth and the myths
There are old real estate fossils out in the world that clutch to popular beliefs such as “inner-city suburbs have the greatest gain” and “good reputation suburbs are a blue chip investments, you can’t go wrong”.
Real estate egos would want investors to believe in folklore that properties along the water would provide one of the highest wealth creators in real estate. There is no research or evidence to support such statements.
One thing all myths have in common is that they are unconfirmed by data and research. This does not concern the ancient culture of these Real Estate dinosaurs which rely on instincts and feelings to survive rather than the nuisance of facts and data. They can lead property buyers astray but the answer is, the greatest creator of capital growth is infrastructure, and Blacktown has lots of it!
To find out more about how infrastructure effects property growth got to “Infrastructure Creates Jobs and Capital Growth”
Blacktown Hospital (BMDH) Expansion Phase 1
The progressive view for the expansion project means an increase in the hospital’s capacity and it’s new services. This will expand the infrastructure of the community and provide the structure for improved medical facilities which is of huge benefit to employment Blacktown.
The NSW Government has put in $296 million and the Australian Federal Government has supported the Hospital Expansion Project with a further $28 million. As the hospital increases its services, it will also increase employment opportunities.
The construction is well on the way with completion set to be in mid-2016.
The additional staff of the hospital will seek housing (including apartments) to rent or buy so they can be close to the hospital. This will speed up the property development to cater to a more dense population. The average income level will increase which will call for extra services such as entertainment, restaurants and coffee shops.
The expansion of the Blacktown Hospital has sparked the Blacktown City Council to develop it’s transport and roads to aide in the development. Blacktown City Council wants to practically manage the future growth of the City and ensure they retain Blacktown as a regional leader.
“The plan will help to shape the health and prosperity of not only this City but the whole of Western Sydney”, Mayor of Blacktown City, Councillor Len Robinson said. There are 8 key Trigger Projects Blacktown City Council are planning on implementing to sling shot Blacktown into the fastest growing NSW City by population.
The Council Addresses the Issues of Infrastructure
One of the key challenges Blacktown Council faces is renewal of infrastructure in the City. Across Australia there is a serious shortfall in the resources available to maintain local assets such as parks, buildings and roads to an applicable standard. New jobs and prospects of increased property value will rely on the functionality of the city infrastructure to maintain a healthy and family friendly landscape.
As Blacktown City pushes to grow, the reality is that Blacktown Council needs to maintain the existing infrastructure that is beginning to age and it is essential to begin that process now.
This has been an ongoing challenge for some time and without it Blacktown City Centre could risk stunting is growth. The Council believes that this renewal of infrastructure will lead to an inviting and family friendly neighbourhood with housing that will meet the diverse needs of the growing community. Basically, it will be a goal of the Council to gain Regional City status for Blacktown City Centre.
Infrastructure covers a host of things such as:
- rail links
The X factor of property growth
Blacktown International Sports Park will be another major project
One of the 8 projects Blacktown Council has their sights on is an International Sports Park with a top of the range multipliable (Able to be multiplied) sports venue. This is looking to serve the needs of local and international sport which will attract people in droves. Local football teams such as The Western Sydney Wanderers (that almost receive cult like status) have made their home at the park with over 100 staff and players.
The whole area is being upgraded with a new 200 room hotel and potential upgrade of Doonside train station to support the new 20,000 seat stadiums. The investment into the project will potentially be over $20 million, over 10 years and be built in 4 stages. This will even include a traffic and landscape upgrade which will increase the curb appeal to suburbs such as Doonside.
Eastern Creek International Raceway
Blacktown Council has presented ideas to the newly $9 million upgraded Eastern Creek International Raceway. The ideas are to create an internationally recognised entertainment venue that will create revenue by attracting motor sport enthusiasts Australia wide. This will attract motor sport related businesses to local industrial areas and in turn help increase property values.
Wet n Wild Prospect
Village Roadshow has started building Wet’n’wild which is a $115 million project. This is expected to provide over 300 construction workers plus 300 permanent full-time jobs when finished.
Wet’n’wild has forecasted that it will attract approximately 900,000 visitors p.a, and 20% of those should be coming from out of state and internationally. This is calculated to create $500 million for N.S.W. over the next 10 years.
Talk about a major attraction to help boost property prices!
So what does this all mean for property in Blacktown and the surrounding suburbs?
Well it has no choice but to grow. For example, Lalor Park properties have greatly increased in price by $80,000 in the last two years. This is because of the location to job possibilities and the improved infrastructure of Lalor Park and Seven Hills.
If you think in the realms of infrastructure, this is what makes Seven Hills and Lalor Park so attractive. The location of theses suburbs between the Industrial havens of Seven Hills Industrial Estate and Kings Park Industrial Estate where people work. This is one of the reasons desire for residential properties increase.
When you think about it, there are people that don’t want the hustle and bustle of Blacktown City but they do desire spacious suburban settings. These factors are based on the knowledge that most buyers want houses with yards, places to play, room for pets, the ability to grow a garden and have a mans shed. Furthermore, the attraction of being so close to Blacktown City which has Westpoint Shopping Centre, entertainment, restaurants, etc, not to mention Wet’n’Wild and Eastern Creek International Raceway.
Is capital growth is on the horizon?
If you asked me directly, I would have to say that the increase in residential property values is definitely on the rise in Blacktown and an estimate average median price growth of at least $40,000 in the near future is very likely.
About Jhai Mitchell
Jhai is an award winning Internet Marketing Real Estate Agent for Elders Toongabbie and Kings Langley. After running his own internet marketing business he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to market themselves online. Jhai is now fixed on one goal. To teach real estate agents that they can market online so much better than they currently are.
Since then he has been consistently quoted in the Sydney Morning Herald and Real Estate Business online. He is a regular guest blogger on TheHomePage.com.au, sharing his expertise of marketing aspects for the Real Estate Industry. His biggest passions are his wife, martial arts, dogs and most of all property.