John McGrath pinpoints Sydney's residential price changing infrastructure projects
John McGrath has pinpointed the infrastructure projects set to trigger price growth in benefitting suburbs.
Major projects in Sydney are shortening the city commute and unlocking affordable outer suburban areas previously dismissed by city families for being too far to travel for work, he noted on his Switzer blog.
"This is providing growth stimulus for local property prices."
He pointed out that history shows that major infrastructure can have a direct and meaningful impact on property prices.
He identified the best new projects currently underway that he feels will have a big impact on local property prices.
Sydney
New projects
WestConnex - 2015-2023
WestConnex is the biggest transport project in Australia today. It involves a 33km link between Sydney’s far west through to the city, airport and Port Botany precinct, bypassing 52 sets of traffic lights.
The project will result in significant travel time savings by car and bus. Commuters travelling by car from Parramatta will save 25 minutes to the CBD and 40 minutes to the airport. About 10km of new bus lanes will halve the CBD commute from Burwood. WestConnex will also divert 3,000 trucks off Parramatta Road per day.
Past projects
M5 East Motorway - 1998-2001
The 2015 McGrath Report can be downloaded here.