More infrastructure development underway in Sydney
July 15, 2014 / Written by Rich Harvey
We've talked before about how important infrastructure can be to real estate values, and based on a recent report from Knight Frank, we're far from the only ones keeping a close eye on how development in Sydney is set to benefit those buying investment property.
Knight Frank's Asia-Pacific Residential Review Special Analysis: Transport Infrastructure and Residential Hotspots June 2014 highlighted the Harbour City's Inner West as a region to watch.
"The recently completed extension to Sydney's light rail network has added nine new stops between Lilyfield and Dulwich Hill; connecting train and bus routes in the Inner West as an alternate passage to the Sydney CBD," the report stated.
"In the three months leading to the maiden journey in March 2014, apartment prices in the suburbs of Leichhardt, Haberfield, Summer Hill and Dulwich Hill averaged capital growth of 3.6 per cent, trending above the 2.3 per cent experienced across Sydney."
Of course, the Inner West is far from the only area savvy investors may be interested in.
As Your Investment Property reported on July 1, construction on a $1.6 billion light rail network for the Sydney CBD and south east is on the horizon in early 2015. Meanwhile, $400 million is set to be poured into the development of a light rail system in Western Sydney.
This comes on the heels of infrastructure news surrounding the airports found in New South Wales' capital city. Not only was a brand new airport recently announced for Western Sydney - a development that is forecast to add thousands of jobs to the region - but the NSW government and Sydney Airport are joining together to fund a package for improved ground transport to make it easier to travel to the existing airport.
Now might be the time to find the right buyers agent in Sydney who can help you make the most of these developments.