The election continues to underwhelm

With only two weeks to run the NSW election campaign continues to underwhelm. The issue of particular significance to me is Sydney transport and the issue of particular interest is the development of the Barangaroo precinct. Both are generating big headlines but frustratingly they’re small on detail. 

Ever heard of a politician storm? It involves lots of threatening wind, thunder and lightening but in the end none of the promised rain. We all know that Sydney is choked and it’s an issue that hasn’t been adequately addressed in terms of long term planning and infrastructure development.  It’s one of the main reasons why real estate on the CBD fringe has continued to deliver sizeable capital growth in recent years despite an overall slowdown in the market.  (Check out the March issue of AFR Smart Investor which reports The Rocks, Waverton, Milsons Point, North Sydney, Greenwich and Woolloomooloo are among the top 100 areas for capital growth in NSW over the last year.)

People are choosing to compromise a little bit on space in order to live closer to their city work. Who wants a quarter acre block if all the time you could spend enjoying it with the family is instead spent in commuter hell.  So while I’m pleased that the areas where Morton & Morton have expertise are increasing in value it would be even more pleasing if this election delivers a government with the courage, conviction and foresight to deliver some detail and solutions to the transport nightmare that is Sydney.