Property prices could increase with tunnel - Chamber

The Peninsula Chamber of Commerce has stated that the NorthConnex road tunnel will be a "game changer" in providing access to the Woy Woy Peninsula from the Sydney CBD and Western Sydney.

This includes an expected increase in Peninsula property prices, according to Chamber president Mr Matthew Wales.

When completed in 2019, residents from the Peninsula will be able to travel from Kariong to the Sydney CBD and all Western Sydney without a single traffic light, he said.

"Nobody should be under any illusions that the NorthConnex tunnel under Pennant Hills Road will significantly boost access to the Peninsula from the Sydney CBD and Western Sydney," Mr Wales said.

"People wanting to visit and do business on the Peninsula will be able to do so without navigating Pennant Hills Rd which is arguably one of the worst and most congested roads in NSW," he said.

The new nine kilometre twin motorway tunnels will eliminate 21 sets of traffic lights and shave off almost 30 minutes for a trip to the Sydney CBD or Western Sydney.

"This dramatic improvement to road access into Sydney will have some major benefits to the Peninsula not the least of which will be the potential for improved property prices as young families view the area as a more attractive option to live than Western Sydney.

"It also has a huge business upside as companies look to the Peninsula as a more accessible and attractive place to set up business, establish distribution centres and new retail outlets.

"We should not forget the potential uplift in tourism and day visits as Sydneysiders see a clear freeway trip from Western Sydney all the way to the Peninsula which has arguably some of the best beaches and coastal waterways in New South Wales," Mr Wales said.

Mr Wales said he gave credit to the NSW Government for supporting and building important road infrastructure which will have long term economic benefits for the Peninsula.

He said major residential developers were already looking to the Peninsula for mixed use investment opportunities as they recognise the NorthConnex potential.

"It is important for the new Central Coast Council to get on the front foot and seize the potential of the project and push the state government to increase infrastructure funding for other key projects leading up to the completion of NorthConnex in 2019.

"NorthConnex is a Coast game changer and the business community should be prepared to reap the benefits in the coming years," Mr Wales said.

Media release, 17 Aug 2016

Matthew Wales, Peninsula Chamber of Commerce