Suburbs along metro line recorded 47% uplift in 2019 property sales
Following on from the opening of the NW Metro Railway in May 2019, savvy property purchasers are hunting for property in this infrastructure rich growth corridor.
Suburbs along the metro line have recorded
- 15% spike in interest1,
- 47% uplift2 in the number of property sales (versus an average of 28% across the city3).
PIA projects have seen an impressive increase in enquiry and sales in these key areas for a range of iconic projects, contributing 32.2% of total enquiry in 2019. The North West region achieved steer attention amongst property hunters due to significant infrastructure investment, proximity to employment hubs and plenty of local retail & dining options available that support the convenient lifestyle in these areas.
After the announcement of Sydney Metro project, suburbs along the Sydney Metro Railway have seen a stable capital growth since 20154.
This $7.3 billion metro line has trains arriving every four minutes at peak hour, hurtling along at speeds over 100km/h, boosting a convenient commute to Norwest Business Park, Chatswood CBD and the Sydney CBD.
As part of the Sydney Metro project, precincts including Bella Vista, Kellyville and Showground Station are experiencing the delivery of new community facilities such as new schools, town centres, sporting areas and cycling paths, as well as a $70 million plan for new hospital at Rouse Hill.
It is forecasted that this exciting transformation plan will bring 12,700 job opportunities and by 2031, the Hills region will see an additional 74,000 residences.
The Sydney market is turning a corner in 2020, it’s forecasted a substantial rise of 10% housing price by SQM, hurry to secure your place before the price gone up.
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Check out PIA’s great projects along the metro growth corridor, we’ll help you find the right property to suit your lifestyle and investment needs.
Source:
1-3: Domain report: Sydney’s Metro Northwest: Spike in home buyers looking to purchase along new metro line
4: Median Sales Price compare January 2015-2019, Corelogic report
