Sydney North West Rail Link lodged with planning department
The NSW government has announced the lodgement of documentation with the Department of Planning that could see the development of the North West Rail Link begin sometime in 2014.
As part of the project there would be a four kilometre section of elevated track - dubbed the Skytrain - would be constructed in the region, along with extra eight train stations and 1,000 new commuter car parks.
Speaking on the lodgement, NSW premier Barry O'Farrell said the major construction project would be the largest transport infrastructure project in Sydney "since the Harbour Bridge".
O'Farrell asserted: "The $7.5 to $8.5 billion rail link is expected to deliver some CBD commuters travel time savings of up to three and a half hours a week - or 30 per cent.
"The projected travel time savings for North West residents commuting to Macquarie University, Macquarie Park, Chatswood and North Sydney are even bigger at more than 50 per cent."
For both investors and first homebuyers, the news could provide added incentive to investigate the potential offered by residential real estate in the region.
Once the development is complete, it is easy to understand how property values will begin to increase - as the infrastructure allows residents to easily travel to areas previously only available by bus or car.