NSW Premier Mike Baird and Minister for Transport Gladys Berejiklian today announced that the contract for the North West Rail Link has been awarded to a consortium and that it will begin operation in early 2019.It is the first fully automated rapid transit rail system in Australia and trains will run every four minutes in peak time.
In next ten years it is estimated that an additional 200.000 people will reside in the North West Growth Centre increasing the population to 600,000 so this is an essential additional to the infrastructure to ensure that the residents can get to work in a timely fashion. This initiative is expected to take 14 million cars of the road each year so will also greatly assist those commuters who have no choice other than to drive to work.
With the arrival of improved transport, change will quickly become apparent in the regions town centres with stimulated growth in the retail and service industries, increasing business and job opportunities.
Demand for housing will dramatically increase; the corridor strategy for the North West Rail is forecasting many apartment style homes with vibrant open spaces, shops cafes and stylish living options being built along the rail corridor as noted below.
Castle Hill – 6100 estimated new homes by 2036
The area around Showground station – 4500 estimated new homes
Norwest – 3000 estimated new homes and 26,000 jobs created
Kellyville – 6400 estimated new homes
Rouse Hill – 3000 estimated new homes
Other satellite suburbs such as Schofields and Riverstone where there are significant new land releases are very likely to experience greater demand from the knock on effect. Traditionally in metropolitan areas where new transport infrastructure is introduced, there will be an increase in property values as demand is stimulated by increased accessibility.