Australia is being urged to adopt a successful urban development template, similar to those used in Abu Dhabi and Las Vegas, to address major challenges like housing affordability and lifestyle quality.
According to Propertyology, the regional NSW city of Broken Hill is the prime candidate for this transformation.
“Drawing upon inspiration from Abu Dhabi and Las Vegas, there is no reason at all that Broken Hill couldn’t become one of Australia’s best urban development success stories of the last 50 years,” said Simon Pressley (pictured above), Propertyology’s head of research.
Currently, Broken Hill offers affordable housing, with prices ranging from $200,000 to $350,000 for three- to four-bedroom homes, and premium properties around $600,000.
Pressley sees great potential for growth and development.
“I believe vision and bravery are the only things standing in the way of Broken Hill evolving into something quite special,” he said. “The city is cherry ripe for a Maha Sinnathamby, Elon Musk, or Richard Branson type.”
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Pressley envisions a future Broken Hill with new hotels, tourist attractions, a sporting center of excellence, a university for the arts, luxury resorts, a military training center, and a space station observatory.
This vision aims to turn Broken Hill into a bustling inland city just a 1.5-hour flight from most capital cities.
“A home can currently be acquired in Broken Hill with as little as a $12,500 (5%) deposit for a $250,000 house in reasonable condition,” Pressley said. “That’s a far more attainable option than 99% of the collective pathetic efforts of state and federal governments.”
Pressley stressed the importance of visionary urban planning, suggesting that Broken Hill’s transformation would benefit nearby communities and enhance regional connectivity.
“If such a visionary urban creation was implemented in Broken Hill, it would significantly strengthen connections and produce knock-on benefits for other relatively nearby communities like Swan Hill, Mildura, Dubbo, Cobar, Ivanhoe, Hay, Port Augusta, and Port Pirie,” he said.
By adopting a visionary approach to urban development, Broken Hill could transform into a modern, thriving city, enhancing both regional and national prosperity, Propertyology reported.
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