Sydney guns ahead with top developments
Choosing where to purchase property requires careful thought, from choosing the appropriate home loan to finding the right area to buy into.
A number of projects across Sydney are making the capital city stand out for those looking to upgrade their real estate. A new aquatic centre will grace Green Square area, while an upgrade of the Kent Street Underpass is also a plus for inner city residents.
Sydney dwelling prices increased 13.09 per cent year-on-year to October 31, making the city the top performer nationally. The next-closest growth was in Melbourne (8.88 per cent), according to RP Data CoreLogic Daily Home Value Index results.
Dip into Green Square development
The City of Sydney's Green Square development is a mammoth one, with 10,000 brand new apartments to be built over the coming four years. The council will contribute $440 million over the coming decade to construct facilities and infrastructure in the area, making it a place to watch.
For anyone looking to hone in on inner-city living, buying into Green Square could be a favourable option.
A scheme for an aquatic centre at the site was recently selected. The state-of-the-art facility will boast an indoor leisure pool, a 25-metre program pool and a hydrotherapy pool.
There were will be a full-sized outdoor sports field, gymnasium, outdoor training circuit and creche.
The facility will be located at Gunyama Park and the Andrew Burges Architects team has risen to the top of 143 entries with its concept for the area.
"Gunyama Park and the Green Square Aquatic Centre will become a wonderful place for people to exercise, relax, and to catch up with friends and family," said Lord Mayor Clover Moore in a November 5 statement.
That's not all that's making waves in Sydney, however.
Kent Street upgrade
The Kent Street underpass will undergo a dramatic revamp, with a focus on pedestrian and cyclist safety, according to the City of Sydney.
This underpass is an important transport link, connecting Barangaroo and Harbour North to Wynyard.
"This is another important part of our work to build a city with safer and more convenient options for walking, supported by clear signage and wayfinding, interesting public art and spaces that attract pedestrians," Lord Mayor Moore noted on November 10.
There are a number of plans in place, included the addition of pocket parks, lighting, exercise areas, new seating and landscaping. Not only will there be practical benefits to the overhaul, but the revamp may make the area more aesthetically pleasing. For instance, the addition of planting beds and art installations could well transform the area.
With regards to safety of pedestrians, there are clear plans in place. Raised street pavers - separate from cycleways - will create pedestrian-only zones, while lighting will improve visibility. A shared zone located at the York Street link road has been proposed, with a 10 km per hour speed limit for vehicles. In addition to cars, cyclists and pedestrians will also be able to use the area.
With a commitment to sustainability, the City of Sydney noted that the lighting will be energy efficient.
Inner-city dwellers who enjoy a spot of fitness may enjoy the area when it's completed, given the exercise areas and ping pong tables.
In its current state, construction for the Kent Street underpass redevelopment will commence in September 2015. The City of Sydney has given a heads up to concept designs and will complete the ultimate design and exhibition process before construction commences next year.
It's expected the project will be finished by late 2016. Anyone looking to take out a fixed or variable home loan to purchase real estate in Sydney may give serious thought to placing themselves in the inner city.
Image credit: Nicolas Boullosa