Sydney’s new airport may see property values fly

The announcement of the Badgerys Creek airport for Sydney will potentially provide another growth spurt for western Sydney’s properties, with towns as far out as Mittagong, Bowral and Goulburn expected to appreciate, according to Raine & Horne.

It appears that with the new infrastructure and subsequent jobs boost of 60,000, demand may increase in the area.

Suggested areas of growth include:

• Green Valley
  
  
• Liverpool
  
  
• Southern Highlands

Source: Raine & Horne real estate agents

CEO of Raine & Horne, Angus Raine, also noted that the commercial, office and industrial space should see a significant increase in demand with logistics and transport firms expected to set up in areas with close access to the airport.

The Urban Taskforce has also pointed to the growth potential inherent in the Badgerys Creek airport.

CEO Chris Johnson said that it is a boost for the whole of Sydney.

“A new airport in Western Sydney will be the catalyst for new growth, new jobs and new infrastructure,” said Johnson.

“Just as the Olympic Games became a boost for Sydney’s development so too the new airport be a game changer for the whole of Sydney but particularly for Western Sydney.”

He also noted that Sydney’s metropolitan area’s planning will also require attention as to focusing where jobs are located and how connecting infrastructure is planned.

“Research is needed on how an airport can maximise jobs in the twenty first century. The concept of the Aerotropolis has been developed to reinforce the role of an airport as a jobs generator,” he said.

This is largely agreed upon by the Urban Development Institute of Australia (UDIA) NSW, who pointed to the importance of the infrastructure coming in quickly.

The $10 billion infrastructure package has UDIA NSW chief executive, Stephen Albin, asking for a number of infrastructure boosts.

These include:

• Extend the South West Rail Link to the airport and further north connecting to the North West Rail Link
  
  
• Provide better link infrastructure to Port Botany and Kembla
  
  
• Improve poor road access around Fairfield
  
  
• Rezone to facilitate the development of land adjacent to the airport

“By establishing an airport at Badgerys Creek Sydney's West will turn from a political to an economic powerhouse - creating new jobs and transport infrastructure in close proximity to where the bulk of Sydneysiders choose to live,” said Albin.