As you would expect, suburbs along the new $7.3 billion metro line are receiving substantially more online searches since the project opened in May, up by 37 per cent in recent months.
Across the 13 stations linking Chatswood to Rouse Hill there was a combined 15 per cent spike in interest following the metro launch, for June to December as compared with the previous seven months,
Rouse Hill was the highest performer with a 37.8 per cent increase in searches. Cherrybrook, Macquarie Park and North Ryde were next with searches for each increasing more than 25 per cent.
The number of property sales in suburbs along the metro line was also up. Sales were up 47 per cent over the seven-month period, compared with a 28 per cent rise across the city for the same time period.
Properties within about one kilometre from a station are in most demand is the feedback from local agents.
|Increase In Searches Since Metro Northwest Opened|
|Suburb||Change in property searches|
Source: Domain. Note: Data is based on searches for properties for sale. Suburbs searches from June to December were compared to searches for the previous seven-month period.
What does this mean for Sydney’s Metro West?
The Sydney Metro West project is Sydney’s next big railway infrastructure investment delivering a direct connection between the CBDs of Parramatta and Sydney, linking communities along the way that have not been previously serviced by rail and unlocking housing supply and employment growth between the two major CBDs.
New metro rail will become the fastest, easiest and most reliable journey between the Sydney and Parramatta CBDs.
The final number of potential stations will be identified following community and industry consultation. Four key precincts to be serviced have initially been identified at:
- Parramatta, where the number of jobs is expected to double over the next 20 years to 100,000
- Sydney Olympic Park, where 34,000 jobs and more than 23,000 residents will be located by 2030
- The Bays Precinct, Sydney’s new innovation hub where 95 hectares of land is being regenerated
- The Sydney CBD, allowing easy access to the existing public transport network and Stages 1 and 2 of Sydney Metro, which is currently under construction.