New freight link on track for Perth
Perth is gearing up for a new freight network, according to Western Australian Transport Minister Dean Nalder.
The massive project is sure to stimulate further growth in the Western capital. Good economic prospects are just one factor homeowners will want to consider when buying a home. Another important factor to consider is the existing cash rate, but its currently low 2.5 per cent makes obtaining a home loan a sound prospect.
Freight link to boost industry
The new project is worth $1.6 billion and will connect Kewdale with Fremantle Port, as well as other areas, the Minister said.
This Freight Link project is expected to revitalise the area and is jointly funded by the federal and WA state governments.
Not only will transporting freight become easier, but roads will become clearer as well - a fact that's sure to please everyday commuters!
Around 65,000 vehicles will no longer be on the roads, thanks to the new link. A 5 km four-lane dual carriageway extension is planned for the Roe Highway as part of the mammoth project.
"It is expected the Perth Freight Link will be open to traffic by the end of the decade. When combined with the current $1 billion Gateway project, this road infrastructure will provide great efficiencies for industry, and ultimately boost the WA economy," Mr Nalder said.
If you're thinking about taking out a cheap home loan in order to purchase an investment dwelling, Perth might just be the pick. The Greater Perth area alone had a population of 1.7 million people in June 2013, according to the Australian Bureau of Statistics.
Outer-suburban areas of this area saw the strongest population growth between 2012 and 2013, making it potentially a great area to invest in.
Image credit: Daniel Lee