The roads, rail and regional hotspots getting budget billions
The 2024 federal budget has unveiled a range of initiatives aimed at tackling Australia’s housing issues head-on, but it’s also provided billions of dollars to build more infrastructure across the country.
The measures include bolstering the supply of new housing, including social and affordable options, amidst record-low housing and rental affordability, all while grappling with cost-of-living pressures.
A significant focal point of investment lies in Western Sydney, with an additional $1.9 billion allocated for priority road and rail projects.
This region has witnessed remarkable residential construction growth in recent years to accommodate its burgeoning population.
However, further public transport and road systems are imperative to effectively connect this expanding populace with central Sydney, the forthcoming airport, and a proposed business park.
The government has set its sights on erecting 200,000 new homes in western Sydney by 2036, with already substantial numbers established in growing suburbs like Box Hill, Marsden Park, Schofields, and Leppington.
Given the influx of new residents and commuters flocking to these areas, robust road and rail networks are needed.
Federal transport minister Catherine King said these projects would help underpin the fundamental shift of jobs and growth to Sydney’s west.
Key infrastructure commitments – Budget 2024-25
Source: Federal Budget 2024-25: Infrastructure
In Queensland, an extra $1.15 billion has been earmarked for stage one of the Sunshine Coast rail link, bridging Beerwah to Caloundra.
With the Sunshine Coast’s population currently surpassing 370,000 and growing steadily, infrastructure endeavors must match this expansion.
Upon completion, the Sunshine Coast Rail Line promises swifter, more dependable, and environmentally sustainable connections between the Sunshine Coast, Moreton Bay and Brisbane.
Canberra is also poised to receive a boost in public transport funding, with a $50 million infusion slated to aid in constructing a segment of the planned light rail line.
Caloundra will eventually be connected to Brisbane by the Sunshine Coast Rail Line. Image: Getty
This line, once operational, will seamlessly connect Gungahlin, the City Centre, and Woden, with construction on the Lake Burley Griffin to Woden section set to commence in 2028.
Victoria’s North East Link road received a substantial budgetary increase, with an additional $3.25 billion allocated to the project.
The North East Link tunnels, which comprise three integral projects and span 6.5km from Watsonia to Bulleen, stand out for their anticipated impact.
Upon completion, these tunnels are expected to divert 15,000 trucks daily from local roads and slash travel times by up to 35 minutes.
With every state receiving funding for regional projects as outlined in the table, the overarching aim is to match the imminent surge in housing construction with proportional road and rail infrastructure development.
The $16.5 billion investment in new and existing infrastructure projects over the next decade underscores the government’s commitment to ensuring seamless connectivity and accessibility to jobs and services across Australia’s urban and regional landscapes.
