The new year has begun, and some people are starting to think about buying a new home or investment property. However, keeping abreast of the hot spots is hard, so we’ve pulled together the most exciting new infrastructure projects in Australia for your perusal. Some are starting, some are ending, and some are underway, but 2020 marks a big year for these projects — and a big year for the areas they impact. For example, with the Pacific Highway upgrade finishing, buying on the Gold Coast will become a far more attractive option to New South Welshmen. Maybe it’s time to check out some investment apartments down there? Or you might think that you should buy near Carmichael, given that the new Adani coal mine and railway line are set to begin construction in earnest in the new year.
All of these infrastructure projects offer exciting potential opportunities to local property markets, so without further ado:
One of the largest road infrastructure projects in Australia will finally come to a close in 2020. Construction has been ongoing for several years now (it officially started back in 1996). Now that all major construction on the highway is drawing to a close, residents can expect traffic to flow a little more quickly throughout the year as the final 129 kilometers are finished. They’ll also find that getting to Queensland and the Gold Coast is much easier, making the area more popular with downsizers and professionals who want to live on the coast and work in NSW (or vice versa). Likewise it makes it easier for Brisbaneites to get to northern NSW’s, which is a trend that is now firmly underway. Northern NSW coastal towns are now a solid battle ground for both Sydney and Brisbane downsizers chasing holiday homes as well as the occasional investors alike, demonstrating that where quality highways lead, people and money inevitably follow. At the time of writing, the project is 82% complete, so you can expect it to be done around mid-year.
Set to start construction in early 2020, the new Adani Railway line will link the future Carmichael coal mine with Abbot Point Terminal. Nearly 200 kilometers long, the trainline will connect to existing Aurizon-owned lines to support the expected 40,000,000 tonnes moving out of the mine per year once it becomes operational.
“Since receiving our approvals we have not wasted a moment. Construction on the Carmichael Coal Mine and Rail Project is well and truly underway on-site, and our big contracts are now also lined up as we ramp up activity,” said Adani Mining CEO Mr. Lucas Dow.
Construction on the rail is expected to start in early 2020 with pre-construction work and surveying happening up until the end of 2019. This will be a major boon for the area, creating hundreds of jobs and pushing a lot of money into the towns along the line while workers get the job underway.
The Adani Railway in itself will not bring a huge number of jobs to the region, but it will herald the opening up of the Galilee Basin and that offers tremendous potential for employment, and hence property prices, in the region.
13 projects will make up this massive railway project, creating a direct rail freight link through Eastern Australia. New contracts for the Victorian portion of the railway were awarded on the 16th of December, 2019, so you can expect 2020 to be a busy year! 1,700 kilometers has to be covered so that this freight line will work, but luckily 70% of the infrastructure is already in place (the lines just need some upgrades to handle the massively increased capacity).
The Australian Rail Track Corporation (ARTC) are responsible for delivering the Inland Rail project. They have divided the route into 13 individual projects across Victoria, New South Wales and Queensland. Contracts have been awarded for these sections and construction began this year. It is expected the project will be fully delivered by 2024 – 2025.
The long term benefits of the Melbourne to Brisbane Inland Rail are related to the efficiency and capacity of Australia’s freight infrastructure. It is expected that the Inland Rail will result in a $16 billion boost to Australia’s GDP over the next 50 years. Furthermore, during construction the Inland Rail is expected to create 10,000 jobs in regional and metro Australia. There is also potential for growth in the 23 towns the line passes through, so it might be worth checking out an investment property in these areas. Significant commercial property opportunities abound in this project with major logistics suppliers all looking to be involved. Residential property opportunities will naturally follow as new employment hubs are created along the line.
What do you think? Are there any infrastructure projects we’ve missed out on? Or is there something else that you think will make a massive change to property prices elsewhere? Let us know in the comments below!