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Property News

Oxford Street population 'will surge' by 2030

January 30, 2012

The current population of Sydney's Oxford Street precinct could grow considerably over the next 18 years, according to forecasts from the local authority.

Sydney City Council asserts that the population could grow by 1,600 residents between now and 2030 - and suggests that revitalisation work in the area will be key to maintaining its long-term growth.

The Oxford Street Village is one of ten Sydney suburbs that will be the focus of the new 2030 in Your Village scheme this year, along with Glebe Point Road, Harris Street and the CBD and harbour districts.

Under the initiative, the City of Sydney is outlining community-based strategies to preserve and support growth in its key 'villages'.

For Oxford Street, this means that efforts will centre on cultural and creative industries, as well as improvements and renovations in support of local businesses and retailers.

Residents and commercial property investors may also benefit from planned improvements to public transit, which would include light rail linking the area to the eastern suburbs and the city.

A community discussion group is scheduled in March for locals to have their say on the proposed plans, which will be available online ahead of the meeting.

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