The strange phenomenon happening in Sydney’s north-west
A strange phenomenon is happening Sydney’s north-west.
Special Minister for State and Liberal Member for Mitchell Alex Hawke says The Hills District is “a powerhouse of economic activity”.
But Ross Greenwood points out a phenomenon taking place in the area, of being able to stand and point and see all the new development taking place across the landscape.
“This is everything about population growth,” he says.
“North-west Sydney has had a lot of the population, we’ve got a lot more coming,” says Mr Hawke.
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The Castle Hill area is also said to have the highest proportion of negatively geared properties in all of Australia.
Mr Hawke says, “this is the thing about this electorate, it’s mainly families”.
“They’re growing their family wealth. Negative gearing allows them to improve themselves… these are not rich people.
“They’re just trying to get ahead. That’s their wealth creation mechanism… that’s what they’re betting their future on.”
The comments come in response to Labor’s proposed negative gearing reforms.