NSW government unveils plans for new Sydney communities
Property investors looking to purchase residential real estate in the New South Wales capital may be interested in two major housing developments recently unveiled by the state government.
Minister for planning and infrastructure Brad Hazzard said more than 13,000 homes will be built for almost 39,000 people as part of plans to create two new communities in Sydney.
Marsden Park, in the city's north-west, and Catherine Field, in the south-west, will be transformed into thriving neighbourhoods under the initiative, potentially attracting property investment as a result.
House hunters looking to break into the state's real estate market may also wish to take note of the project, which will flood the market with more accommodation options in the Harbour City.
Mr Hazzard commented: "At Catherine Field, 3,100 new homes are planned for 9,000 people near the South West Rail line.
"The site will have a neighbourhood centre, housing, shops and a community centre, the heritage Oran Park House will be protected and an environmental corridor established along South Creek."
More than 10,00 homes will be built at Marsden Park, as well as four new schools, shopping precincts and an adjoining industrial park that will providing up to 17,000 employment opportunities.