Warnervale Town Centre – 15 years of updates and promises

While new subdivisions flourish in the adjoining Precinct 7a, the necessary infrastructure of new shopping district and community recreation areas at Warnervale Town Centre may fall behind the demand from these new residents. The entry road is now complete, and Sparks Road upgrade is working well. So what of Warnervale Town Centre? And Warnervale North train station?

Central Coast Council administrator Ian Reynolds and his staff continue to liaise with Woolworths about their future plans for the Woolworths site, with a Woolworths spokesperson advising “the company remains committed to the Warnervale Town Centre site. Timeline is being confirmed and the community will be updated in due course”.

Urban Growth – Landcom – have now sold their residential holding so it seems logical the new purchaser will begin works soon.

A Transport for NSW spokesman said the North Warnervale railway station was a “potential project” and would be progressed when there was “sufficient demand”.

Reserve Bank steady but interest rates likely to rise

Banks have been quietly raising rates for investor loans in recent times, as well as a range of fixed term rates, and are now eyeing whether to put up variable rates across all home loans.

The main reason for the independent rate rises is the “Donald Trump” effect – with his plans to spend hundreds of billions of dollars on infrastructure pushing up yields on long term US Treasury bills. That will push up borrowing costs in capital markets, and banks will have to pay more to source their funding after a long period of low rates. Overseas interest rate movements have a significant effect locally – and rates may go up as lenders see an easy way to offset the onslaught of higher funding costs on their profit margins.

Banks are also under pressure from the domestic regulator (APRA) to hold more capital as a buffer against any shock.

The question is whether the big four banks will raise rates for residential owner-occupied mortgages – after all, they exist in a politically charged atmosphere where their every move is being scrutinised by Canberra and consumer groups.

For now, the Reserve Bank left the cash rate on hold at 1.5 per cent last week.

M1 Motorway widening from Tuggerah to Doyalson to begin in 2017

Roads and Maritime is upgrading the M1 Pacific Motorway between the Tuggerah and Doyalson interchanges to improve traffic flow and safety. The upgrade involves widening the motorway to provide three lanes in each direction and rebuilding the roadway to provide a smoother and more durable surface.

Major construction is due to start in 2017 and RMS will provide more information to residents and stakeholders as the project progresses.

The 12 kilometre section between Wyong Road Tuggerah and the Doyalson Link Road is currently two lanes in each direction. It has the highest volume of traffic of the remaining four lane sections between Sydney and the end of the motorway at Beresfield. This motorway is used by through traffic and traffic north of Wyong accessing the Central Coast.

Key features and benefits include increased traffic capacity along the motorway, more reliable travel times, improved road safety and a smoother road surface.