Committee for Sydney report says fast rail will create 40,000 new dwellings across NSW

FAST rail is the solution to Sydney’s growing pains, according to a think tank report that argues an additional 40,000 homes could be built across NSW by opening up land around rail corridors.

FAST rail is the solution to Sydney’s growing pains, according to an independent think tank report that argues an additional 40,000 homes could be built across NSW by opening up land around rail corridors.

The Committee for Sydney has urged the NSW government to consider using “off the shelf” fast rail technology to improve cumbersome rail connections between Sydney, Gosford, Newcastle and Wollongong and ease pressure on Sydney’s housing market.

Fast rail is the solution to Sydney’s growing pains, says an independent think tank.

The Committee’s report also called for the establishment of “Sandstone Mega-region” of six cities rather than a metropolis of three cities.

This would link Newcastle, Gosford and Wollongong to Greater Sydney with 200km/h fast rail connecting each centre.

“Within 15 years of the rail service improvements, over 40,500 dwellings would be added to locations outside of metropolitan Sydney,” the report noted following a year-long investigation involving 40 different organisations.

“In some cases, the additional dwellings would come from trading one seaside location for another (e.g. Manly for Newcastle).”

Researchers forecast that by 2036, Wollongong could have an extra 10,000 dwellings, Gosford 9,000 and Newcastle 8,000 because of improved rail access, also generating thousands more local jobs.

A trip from Newcastle direct to Parramatta could take as little as 60 minutes

And by that time, the median property price in Greater Sydney would rise by $40,500 less than expected with demand shifting to Newcastle, Gosford and Wollongong.

“Considering there are 1.85 million dwellings in Greater Sydney, this results in over $75 billion of housing affordability improvements for Sydney,” the report stated.

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At 200km/h — a “conservative” fast rail speed — the technology would halve the Gosford to Sydney commute from 80 minutes to 40.

It would also orientate Sydney towards its geographical centre of Parramatta — a trip from Newcastle direct to Parramatta could take as little as 60 minutes down from 153.

Liberal MP John Alexander believes north-south connectivity by fast rail is needed.

Liberal MP John Alexander believes north-south connectivity by fast rail is needed but said Goulburn and the Southern Highlands should also be included in the network.

Mr Alexander has been leading a federal infrastructure and better cities parliamentary inquiry that is due to release its own report next month.

Former NRMA chairman Kyle Loades, who led a commission on the so-called “Mega-region”, said investing in fast rail could increase the number of new dwellings built in and around Wollongong, Newcastle and Gosford by 27,000 over the next 20 years.

“This additional housing supply will take pressure off the Sydney housing market, which is one of the most expensive in the world,” he said.