New airport represents investment opportunity in Western Sydney
May 5, 2014 / Written by Rich Harvey
By Rich Harvey, CEO, propertybuyer.com.au
The recently confirmed construction of a new airport in Western Sydney will do more than offer more convenient air travel to the region - it's also set to add thousands of jobs and significant infrastructure to the area.
After more than 50 years of discussion, the government has announced the new airport will be built in Badgerys Creek.
"This airport will be good for economic growth and good for jobs - both in Western Sydney and nationally," said Prime Minister Tony Abbott.
"Airports are unique in that they employ more people in operation than construction - so these are long-term jobs for the future. While the initial construction phase is expected to generate around 4,000 jobs, the airport development is expected to create 35,000 jobs by 2035, increasing to 60,000 jobs over time."
Additionally, the airport is forecast to ad $24 billion to Australia's gross domestic product by 2060.
These figures show how important this development is not only to Sydney, but to the nation as a whole.
The airport will not be operational for 10 years, according to Mr Abbott. However, planning is set to start immediately and construction is geared to begin in 2016.
This gives potential investors time to buy investment property in Sydney to take advantage of economic growth in the region.
Western Sydney is already an economic powerhouse for the country, and this development will drive growth even higher over the coming years.
In addition to the airport itself, related infrastructure development for roads and rail lines will give property buyers in the region plenty of opportunity for capital growth.
The new airport announcement represents an exciting time for property buyers in the region, so reaching out to a qualified buyers agent in Sydney sooner rather than later may be in order.
