Over the next twenty years, population growth and significant infrastructure spending across greater Sydney will ensure that the Hills District continues to be a smart area to invest in.
With government investment comes greater business confidence, thanks to the creation of high-value jobs and improved livability, both of which attract good-quality tenants who want to stay in the area. And sought-after areas will keep those tenants for longer, providing you with steady income and peace of mind.
While the Sydney market is currently flat, the smart money is buying now with an eye to long term prospects in The Hills Shire and surrounding areas.
What’s behind business confidence in the Hills?
This year, the Greater Sydney Commission set out its state infrastructure strategy, to be rolled out over the next 20 years. It’s an ambitious vision that promises to reshape the city’s structure, taking pressure off the centre and creating three distinct zones – ‘a metropolis of three cities’ – that will attract new business to outer areas and accommodate a population that is predicted to expand to 8.3 million by 2056.
The Hills District will fall into the newly created Central City District. Here, the government has poured $10 billion of investment into Parramatta, which has flow-on effects to surrounding areas, including The Hills.
Image source: Greater Sydney website
The district plan is all about creating a city for the people – fostering walkability, public services and social infrastructure, and connected, socially and culturally rich communities. For the Central City District, a number of priorities have been identified, all of which will make this area even better to live in. These include:
- Intercity and intracity transport connections
Here, the Sydney Metro Northwest Rail is an exciting development. Set to open in the first half of 2019, its impact on local areas will be felt from Cherrybrook to Rouse Hill. While new transport links can cause local markets to overheat in the short term, public transport invariably offers permanent benefits to an area – something that savvy investors will always keep in mind and invest accordingly.
- Intracity walking and cycling connections
Improving walkability and cycle paths through bushland, parks and waterways is essential for livability and health and something that smart cities are now embracing as populations grow.
- North-south transport connections
Investment here will be great for business and create new opportunities for areas beyond greater Sydney, too.
- Cultural and recreational infrastructure
Local infrastructure investment is always a positive sign for an area. Locally, the proposed upgrade of the iconic 1960s Waves Aquatic Centre will turn a dated facility into a real asset to the community. Any quality sports or cultural venue enriches daily life for local residents and contributes to a vibrant and healthy local community, whether you own investment property in the area or live there yourself.
- High-quality digital connectivity infrastructure as part of all new development
As remote working rises, we will see more people living and working locally rather than commuting into the city centre each day – something that is great for property investors in the Hills.
- Supported growth in population and housing
With the greater density of new-build apartments close to the new train stations – there are due to be some 11,000 delivered over ten years – will come increased demand for small businesses and others services for new residents, along with the creation of high-value jobs and business opportunities as the area changes and grows.
- More school and education facilities
As the population grows, the area will need more schools and childcare centres, and upgrades of existing facilities. These developments will bring with them high-value jobs from architects, project managers and teachers.
Looking ahead in the Hills
Sydney as a whole will always be one of the world’s great cities thanks to its natural beauty, economic and educational opportunities, cultural amenities and climate. As this new masterplan is rolled out across Greater Sydney, property investors in The Hills District can feel positive about the area’s future as a thriving community and a great place to live and invest.
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