UDIA welcomes planning for growth and investment commitment for Western Sydney

UDIA applauds the recent change to the planning provisions within the Parramatta CBD which will see more jobs and housing in Greater Parramatta. This includes 12,000 new apartments being created in Sydney’s second CBD and a further 38,000 dwellings along Parramatta Road Growth Corridor.

With the renewed focus of Government on the six cities across the Sydney Megaregion, our two premier CBDs, Sydney and Parramatta, must remain as the hotspots of housing and jobs and focal points for infrastructure investment. The recent announcement together with yesterday’s statement by Minister Roberts of the investment of $49 million towards significant infrastructure projects in the area, will go a long way to support this outcome.

The success of Parramatta CBD and Central River City are closely tied and will provide up to 84,000 new homes at the Camellia Rosehill and Sydney Olympic Park growth precincts, as well as the Parramatta CBD and Parramatta Road Growth Corridor. Based on Cordell Connect and UDIA supplemented research, the Central River City could provide up to 30,000 apartments in the next 5-10 years, which is the largest contributor tof Greater Sydney’s apartment supply.

Apartments are critical to cater for the international students as they return and home buyers who continue to embrace high density living due to its good access to jobs, and infrastructure and services, supported by lifestyle benefits.

We should now see the combined infrastructure investment to match the future residential investment in the Central River City. This could include an earlier completion of the West Sydney Metro, expected by 2030, the full delivery of Stage 2 of the Parramatta Light Rail and other recently identified Parramatta Road infrastructure needed to drive growth.

We support an integrated delivery program of all infrastructure to better link our premier CBDs, improve access in the Central River City and strengthen the Parramatta Road Growth Corridor.

Steve Mann, CEO, UDIA NSW said “Both announcements from the NSW Government are extremely encouraging, particularly as they align with our strong commitment to Greater Western Sydney through our NextGen West Advocacy Strategy in partnership with Business Western Sydney. These changes will further enhance Parramatta as CBD No.2 in the Greater Sydney Mega Region.”

“Based on the BWS Closer to Talent report, local jobs in the Parramatta City LGA have grown from 157,000 in 2014 to 192,000 in 2020. This is a big step forward for the 30-minute city aspiration in Western Sydney and new homes well located to transport connecting to high paid jobs is what we need to see more of in Western Sydney,” said Mr. Mann.

We also look forward to the delivery of a future rail link from Parramatta CBD to Aerotropolis (Bradfield) Link to ensure our second CBD better connects the west with the west.

—ends—

Media Enquiries:
Deanna Lane 0416 295 898 or dlane@udiansw.com.au.