Melbourne to Sydney could take less than two hours in a high-speed rail proposal, and its construction won't cost taxpayers a cent.
The ambitious $200 billion proposal was released on Thursday and will aim to link Melbourne, Canberra and Sydney.
In the process, eight new inland cities will be created and serviced by the train.
The infrastructure can be paid for by the city development rather than government coffers, according to the company spearheading the project, Consolidated Land and Rail Australia (CLARA).
Land has already been secured in a number regional hubs.
The plan has support from an advisory board of Australian and US business people including former Victorian premier Steve Bracks, former NSW premier Barry O'Farrell and former US secretary of transportation Ray LaHood.
Mr Bracks says the speed to which people will be able to reach the big cities could mean people can afford to live further out.
"Shepparton will be something like 30 minutes from Melbourne on the rail stop and that will be a game changer for where people will live and where they will work," Mr Bracks told 3AW on Thursday.
The Victorian government says it is looking at the proposal.
"It's an interesting idea. I know it's not the first time that an idea has been floated to put in place high speed rail links between Melbourne and Sydney. It's often quoted as one of the world's busiest air corridors for air passenger movements, so many people have thought it makes sense to see improved rail services," Transport Minister Jacinta Allan said on Thursday.
Mr Bracks says the project will take more than 30 years if it gets approval, but believes this is one of the best and most viable options.
"I know there's a lot of cynicism, I know people will be saying 'it sounds too good to be true, therefore it's not true' but this is a viable economic model to achieve a fast rail link between Melbourne and Sydney," he said.
CLARA has partnered with international companies including GE, Aecom, RMIT and the CSIRO.
