AFR posted an article about Woollahra station:
Woollahra in Sydney’s east is the most feasible place to build new apartments in the city because profit on each unit is about $1.2 million, according to research the NSW Labor government used to back its plans to triple density in the suburb.
The Centre for International Economics advised NSW Treasury in August 2024 the average apartment in Woollahra sold for $3 million, making the gap between the cost of building a unit and its sale price the widest in Sydney.
Modelling before NSW Labor’s railway station decision overstated profit per apartment. After correction, it’s still the best suburb to build in Sydney.
www.afr.com
Non paywalled link:
https://archive.md/A2KK3
I don't think we'll see any affordable housing above the station. It'll all be luxury apartments.
Fancy Labor going to the last election promising more infrastructure spending for the west, yet this is the only policy they came up with.
They have f**ked the City/SW metro extension to Bankstown and delayed it by 18 months.
They have f**ked the City-West Metro to Parramatta /Westmead and delayed it by 2 years. The Rosehill station addition fell flat on its feet.
All adding billions to the costs due to the delays.
They initiated enquiries into further western Sydney public transport which cost 10's of millions of taxpayer money, and decided there'll be no more metro's until 2040.
And, furthermore, they have now cut the Parramatta - Olympic Park light rail in half. Just like they did with the Chatswood - Parramatta rail link in the 90's.
Why is Labor so anti public transport?