Fast train announcement welcomed
Urban Development Institute of Australia (UDIA) NSW chief executive, Steve Mann, said fast rail to the regions could fundamentally shift development patterns in NSW, reduce traffic congestion and boost tourism.
“This is a very exciting announcement. We welcome the Government’s commitment to building new infrastructure which will catalyse economic growth as part of the ‘decade of decentralisation’” said Mr Mann.
“However, there are still many questions which need to be answered. What urban planning will there be for the growth created by the rail? How much will it cost, and will the Government raise taxes on new housing to fund it?
“The idea of fast trains to regional centres has been debated for decades. We may have reached a point where housing in Sydney is unaffordable, therefore a regional fast train network is needed now more than ever.
UDIA NSW is currently working with the University of NSW to develop an algorithm called Urban AI, which will be able to model the economic return from railway investment in outer western Sydney.
“With new technology, we can more accurately model growth resulting from infrastructure investment more accurately than ever before. The NSW Government must consider the big data technology which is being developed very rapidly.”