Investment in a new rail line in Sydney, New South Wales, will lead to the construction of more property in the Australian city.
This is according to the Urban Task Force's Aaron Gadiel, who said that 169,000 new homes are to be built in the north-west of the state, including 87,000 homes in greenfield areas.
His comments follow the government's announcement that it had created a project team to move forward work on the 23-km line, which will run between Rouse Hill, Castle Hill, the Norwest Business Park and Sydney.
"This strong investment in rail will increase Sydney's capacity to deliver housing in line with [the] needs of a growing population and changing demographics," Mr Gadiel added.
He went on to say that the north-west line is more of a priority than the Parramatta to Epping rail link.
Last month, Louis Christopher, managing director of SQM Research, said that Australian property investors should look to the middle and outer suburbs of Sydney, as good value housing lies within these areas.
Posted by Ravin Chatlani
