Future development of Byron Bay
A recent release from the New South Wales' government Department of Planning and Environment (DPE) has highlighted the recent approvals of a rezoning plan in West Byron Bay, which aims to alleviate property pressures and help increase both availability and affordability of houses in the region.
This could provide a great opportunity for buyers to seek out a home loan and make moves into the local market, especially as these developments will continue well into the future.
As the region grows, employment opportunities also grow - with a DPE spokesperson stating there will be up to 800 new construction jobs as well, helping boost the local economy as well.
"The New South Wales government's recent announcement of $10.5 million toward a road bypass of Byron Bay town centre will make a significant dent in local traffic congestion," said the DPE spokesperson in a November 7 statement.
"The new road will make it easier for the town's current and future residents to get to shops, cafes, work, school and local services. Importantly, through the rezoning approval, we're making the developer pay almost $8 million to the community for local road upgrades."
Developments in the region will need to align with the West Byron Development Control Plan, which is currently being finalised by the local council. One of the main issues being focused on by local representation is protecting the environment, with a specific focus on the area's acid sulphate soils and the impact these will have in the future.
Working closely with the state government, the Byron Shire council are aiming to help protect the environment as adequately as possible. Now could be a great time to get in touch with a financial expert to begin discussing the most suitable route for potential buyers to consider. The opportunities offered by the local community could be a great avenue for investment to look into in the future.
Image credit: Mark Moz