The Australian Capital Territory recently approved the first stage of Canberra's public ight rail network, with this infrastructure project potentially aiding future growth of the region's economy. Owners of Belconnen real estate will find themselves more connected with their capital city as expressions of interest are expected to begin filtering in on Friday 31 October.
Minister Simon Corbell said the estimated cost of the infrastructure development is expected to be $610 million – plus a $173 million contingency – which will help reduce reliance on personal vehicles in the future while contributing towards a more sustainable, renewable Australian Capital Territory.
"The population of our northern suburbs is growing at five times the rate of the rest of Canberra. We need reliable, frequent and safe public transport. If we do nothing the estimated journey time from City to Gungahlin in 2031 will be more than 50 minutes in a car. Light rail will offer commuters a viable, attractive public transport option with a consistent journey time of about 25 minutes," said Mr Corbell in a 15 September statement.
Now could be a great time to be the owner of Gungahlin real estate, with dedicated infrastructure development expected to aid your future commute over the coming years.