ECONOMY

Budget 2016: Infrastructure proposals that could help your Property Investment

May 20 2016
State budget

Western Australia’s state budget delivers infrastructural developments that could be key to WA property investors.

The new 2016-2017 State Budget has provided some positive news to property investors, with key infrastructure and redevelopment projects providing the potential for more growth in key areas.

The budget’s big winners for infrastructure were Ellenbrook, Clarkson, Merriwa, Banjup and Piara Waters; with improved public transport and a focus on improving commute times to the outer suburbs of Perth.

Scarborough also fared well with a $75.4 million proposed development allocated in the 2016-2017 budget.

The key points at a glance

Ellenbrook
According to the budget Ellenbrook and the surrounding suburbs will see a $49 million public transport project in the region, including a new bus lane and additional services to Midland Town Centre.

Northern corridor and Armadale Road
A $95 million extension to the Mitchell Freeway will increase access and improve commute times to the Northern corridor of Perth and deliver commuters directly to the heart of Clarkson and Merriwa on Hester Avenue.

Scarborough Foreshore Redevelopment
New life will be brought to Scarborough with a proposed $75.4 million redevelopment planned featuring new cafes, restaurants, shops, waterfront swimming pool, climbing wall and mixed recreation and retail spaces.

If you’d like to know more about what’s in store in the 2016-2017 State Budget full details can be found at ourstatebudget.wa.gov.au.

If you would like to learn more about the investment potential the budget infrastructure proposals could have on your future investment potential visit an investment specialist.

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