Australia Sydney transport costs 'alarming': NRMA

14:08  14 november  2017
14:08  14 november  2017 Source:   MSN

New Harbour Tunnel estimated to cost $7.2 billion

  New Harbour Tunnel estimated to cost $7.2 billion The cost of a second road tunnel underneath Sydney Harbour is estimated to be $7.2 billion, 9NEWS can reveal. A leaked Transport for NSW document shows the project’s "Estimated Total Cost" is $7.2 billion, with a proposal for an 80:20 funding model with the Federal Government. The document lists a request of $5.76 billion from Canberra to help pay for the project.The tunnel will link WestConnex at Rozelle, cross under Sydney Harbour between Birchgrove and Waverton, then connect to the Warringah Freeway at North Sydney and the Northern Beaches Tunnel.

Fuel costs increased in Sydney by 7 over the four quarters to March. NRMA Director Tim Trumper said the NRMA knows from our Members that the cost of transport is getting worse, and rising petrol prices are a big part of that.

Sydney transport costs ' alarming ': NRMA . Sydney man stabbed in 'domestic' incident. Jacqui Lambie latest citizenship casualty.

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Sydney jobs boom puts pressure on transport and house prices

  Sydney jobs boom puts pressure on transport and house prices Sydney has added nearly half a million jobs in the past decade but patterns of employment growth are putting the city's transport system under pressure and helping to drive up property prices. A yawning employment gap between city and country has also been revealed by analysis of the latest census data by the consultancy SGS Economics and Planning.This urban-rural jobs divide looms as a lasting economic challenge for the state.The report reveals Sydney's inner suburbs have accounted for a disproportionate share of employment growth.

Sydney transport costs ' alarming ': NRMA . Sydney man stabbed in 'domestic' incident. Jacqui Lambie latest citizenship casualty.

Parking in Sydney CBD can cost more than per day.Source:Supplied. And while many have given up the daily fight for a parking spot and taken to public transport to reach the Sydney CBD, motorists feel “demonised” for using their cars, the NRMA says.

Sydney families are forking out record amounts on transport, with the cost of filling up at the bowser climbing as petrol prices peak at a two-year high.

A quarterly NRMA report released on Tuesday found Sydneysiders were spending an average of $22,350 on transport every year, a third of the average NSW income, and the highest figure in the nation.

The price hike was attributed to the rising costs of car financing, registration, tolls and fuels.

Sydneysiders are forking out more than $22,000 a year on transport - the highest in the nation - as residents continue to be slugged by higher fuel costs. © Ten News Sydneysiders are forking out more than $22,000 a year on transport - the highest in the nation - as residents continue to be slugged by higher fuel costs. The price of regular unleaded petrol in Sydney hit $1.41 cents per litre on Tuesday, according to CommSec Research, the highest price since October 2015, the NRMA said.

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Sydney transport costs ' alarming ': NRMA . Court told of Liberal candidate doubts.

Sydney transport costs ' alarming ': NRMA . Court told of Liberal candidate doubts.

The portion of the average family's budget being spent solely on travel is alarming, NRMA spokesman Peter Khoury says.

"Certainly if the start of this quarter is anything to go by, it's going to be a tough few weeks for motorists," he told reporters in Sydney.

NRMA predicts fuel prices will go up another cent, then drop to an average of $1.25 before rising again as part of the "fuel cycle", Mr Khoury said.

"Some people are saying it's going to be a really tough Christmas.

"And the nature of the sector is such (that) prices could go up more, or they could drop, we have to wait and see."

Fuelling the rise according to Mr Khoury is the uncertainty and instability in the Middle East.

"We've seen world oil prices jump six or seven dollars a barrel over the last two weeks so unfortunately, that is now flowing on to bowsers here at home," he told reporters.

"The market is so volatile, things could come back to normal in a few weeks or they could get worse - it's really hard to forecast."

In the meantime, he says motorists can save "hundreds of dollars a year" by using apps that provide real-time data on service stations across the state.

Comment: Australia: a nation of cash-poor millionaires .
The average Australian household now has more than a million dollars in net wealth. The trouble is we are becoming increasingly cash poor. While the value of our homes has risen to the point where the average household can boast millionaire status – on paper at least – Deloitte Access Economists has found 37 per cent of households are concerned about their ability to pay their bills and household costs. It expects this number to increase to 40 per cent within two years.

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