Power to the planners!

PROPERTY developers and investors are predicting the probable change of government in NSW will bode well for developing areas, including the Hills district and the outer west.

The NSW Liberal Party has indicated if it wins the March 26 election, it will give more power to local councils in terms of planning regulations.

The party’s website says residents (through local councils) are better equipped to decide on planning issues than the state’s politicians.
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Although this will be a heated argument, as government planners fear approvals will be delayed while councillors debate minute items, property investors will be happy to see a layer of bureaucracy removed from the planning debate.

The Hills district and outer west are attuned to planning and infrastructure debates as the regions are the emerging areas of development in the industrial real estate market.

Improvements in road transport with access to various motorways have brought the area closer to the city’s ports and distribution hubs.

The Hills district is in the north-west corridor and incorporates Bankstown through to Blacktown and the Norwest Business Park. It is linked via the M5, M2 and M7 motorways.

The managing director of Taylor Nicholas, Peter Taylor, said demand for industrial property in western Sydney and the Hills districts had risen markedly in the past two years.

”The proactive push from these councils to become commercial business hubs means that the local councils understand the value that commercial development can bring to their local communities,” he said.

”We believe that the pledge from the NSW Liberal Party to give local council more say over development will mean that this trend will continue, which should be a stabilising influence in the property market in somewhat uncertain times.”

Mr Taylor said that according to research conducted by Invest Sydney Hills, the area’s economy had grown from $9.8 billion to more than $17 billion during the past three years and the current population of 170,000 was set to expand to 255,000 by 2031.

”More than 20,000 residents are expected to arrive in the next five years alone,” he said. ”As the market picks up, we are seeing vacancy rates drop considerably.”

To cope with the expected demand increases, Taylor Nicholas has opened two offices in the area. ”Businesses are more and more willing to relocate to these western-fringe suburbs,” Mr Taylor said. ”This is already evident in the rapidly expanding warehouse and distribution hub growing along the M7.

”As businesses relocate, there are more buying, selling and leasing opportunities and a greater demand for the expertise and services that our company provides.”

In the past year, high-profile corporations have taken up leases in the area, including IBM, Woolworths and ResMed. Subaru has relocated office operations and corporate headquarters to the area.

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