The proposed council mergers in Sydney will drastically reduce the number of local government areas. How will this affect property in St. George?
Given their location, the St. George suburbs will have a few different geographic outcomes after the proposed amalgamations. Most notably, Hurstville and Allawah – presently in different jurisdictions – will become part of the same local government area.
Other suburbs, such as Carlton, Kogarah and Beverley Park, are further away from the proposed boundaries and are less likely to see any border changes.
The communities affected by the proposed mergers share similar economic features. According to the Botany Bay and Rockdale merger proposal, both areas have an average household income of $80,000 per year. They also share key industries.
Hurstville and Kogarah cities have comparable economic outlooks. Both have annual household incomes on par with or above the average for greater Sydney. The merger proposal for this area also notes that the two cities share similar rates of employment growth and low unemployment rates.
The communities in the St. George area can expect to experience a number of financial benefits as a result of the proposed amalgamation. Both proposed new councils are projected to receive $10million as part of the Stronger Communities Fund. The NSW government also predicts that council mergers stand to raise livability standards and increase the supply of housing in the affected areas.
The council governments also estimate a strong financial benefit over a 20-year period if the mergers are successful – $72million for Rockdale and Botany Bay, and $63million for Hurstville and Kogarah.
With these projected economic futures, now is a good time to think about buying property in Carlton or the surrounding areas. Get in touch with a Ray White Carlton agent today to learn more!