The Smartline Report - Home Loan News NOVEMBER 2009 Smartline - Personal Mortgage Advisers
   

 

 

The month in review: Canberra

By Herron Todd White
November, 2009

 

The growth of Canberra’s population has lead to the need to update infrastructure. Currently the two major projects are the development of Canberra Airport and upgrading infrastructure in Gungahlin to cope with the continual growth in the region.


The first stage of Canberra Airport’s new $350 million terminal development began in April this year after being put on hold for four months due to the global financial crisis. The development is to be completed in an independent three stage development plan.


Of these three stages, the first includes construction of a new Southern Terminal Concourse, aircraft parking apron, new entry road systems and multi-deck car park adjoining existing terminal. This stage of the development is expected to be completed and open in July next year. The new road system combined with two new structured car parks will ensure travelers will not need to cross a road to reach the terminal, a major problem with many airports today.


This upgrade of airport infrastructure is expected to create 300 construction jobs onsite, plus additional 950 jobs off-site over the course of the three stage development. The airport development along with the expected arrival of an airport hotel within the next five years will continue to improve Canberra’s infrastructure while creating many jobs over the coming years.


With the 2009/2010 budget injecting $274 million into Canberra through the Capital Works Program, a significant portion is set aside for works in Gungahlin. Gungahlin is Canberra’s newest region with new residential land releases and development occurring. However it does not appear to contain the necessary infrastructure to support its ever-increasing population growth at this point in time. Gungahlin has grown rapidly over the past five years to a current population of 35,000.


Roads and transportation links require significant upgrades, as current systems begin to feel the pressure building. This is a result of a number of compounding factors. Firstly, the infrastructure within Gungahlin has not been able to provide enough jobs for the population
base within the locale and secondly, all city-bound traffic is funneled along Northbourne Ave. With a continual growth in population, Gungahlin residents will be faced with increasing travel times between work and home. The recent completion of the Gungahlin Drive Extension has provided some relief, with a duplication of the project recently commissioned.


A $67 million plan has been approved to construct Gungahlin College, library, a local park and CIT facility in the same precinct. Harrison School also opened in 2008, providing education for pre-school and primary school students, with Harrison High School set to open in 2012. This facility is set to educate in excess of 800 students. Nearby, the Exhibition Park In Canberra (EPIC) already caters for a large portion of events and a $20 million dollar pool and leisure centre is planned, accompanying an enclosed oval. The Sustainable Transport Action Plan 2010-2016 has also been initiated in order to review pedestrian and cycling infrastructure across Canberra, inclusive of Gungahlin.


The development works to the Canberra Airport and upgrading infrastructure in the Gungahlin district are two examples of private sector and government funded infrastructure programs occurring in the Canberra region.

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