The proposed new Western Sydney airport $6 billion infrastructure project has been described as a jobs boom for the western suburbs. From the outset, the airport construction phase, to begin in 2018, will provide an estimated 11,300 jobs, plus a possible further 4,400 construction jobs if the planned Western Sydney Airport on site Business Park Project also goes ahead.
Suburbs slated to benefit to the north of the airport include Penrith and Mount Druitt along with Ingleburn and Campbelltown to the south. Local agents are on record saying these areas are primed to see property values increase from the proposed wealth of infrastructure investment and jobs growth into the Badgerys Creek Airport development along with roads and transport upgrades meaning decreased travel times into the city, and it’s hard to find a counter argument right at the moment.
You see, airports are one of the few large-scale infrastructure projects that provide more employment opportunities after construction. Once the airport is operational, around 2030, it’s estimated to provide a combined 16,000 direct airport and surrounding onsite business park jobs. And by 2063 the expectation is for approximately 100,000 job opportunities.
With over two million people already living west of Paramatta and around 700,000 of these leaving the area for work every day this jobs boom and new infrastructure will enable some to switch over to local work opportunities and others to reduce their CBD travel times. At Kingsford Smith airport around 80% of employees live nearby. In the UK at London’s Gatwick Airport that figure is around 84%.
The Badgerys Creek airport site has a proposed distance of the airport away from nearest suburban residences that will be the largest in Australia at 10.5 km as compared with Sydney at only 0.6 km distance, which has operational restrictions and curfews to deal with each day.
What Does This Mean For Local Property?
We know that over the years many large infrastructure projects across Australia have influenced growth in property values in the surrounding areas; but unlike the effect a mining boom has on property prices in small satellite towns that can boom and bust as mines open and close, the Western Sydney Airport, if it goes ahead as planned, will be there to stay for the long term.
There are many exciting development opportunities still to play out around this signature piece of Western Sydney airport infrastructure that can include business parks, corporate headquarters, high-tech industrial hubs, logistics companies, university campuses to hotels and apartments. Along with the growing housing requirements for locals and staff who desire to live close to work, public transport, good shopping centres and schools.
Currently the sky’s the limit at Badgers Creek and the surrounding suburbs for investors assuming everything continues to go ahead as planned. If you get a chance to visit the Badgers Creek area take a moment to imagine what it may look like in 2060, and then ask yourself – How can I capitalise on this today in 2017?
