Metro corridors drive Sydney’s next wave of growth
Sydney's property market is showing a clear pattern: suburbs along new metro corridors are outperforming the broader market, and the next wave of growth is already underway.
New data from Ray White shows the Southwest Metro and Western Sydney Airport corridors are leading Sydney price growth momentum ahead of the Southwest line's launch later this year, up 12.41% and 17.50% respectively over the past two years.
The Northwest Metro, opened in 2019, is the clearest example of what new rail does to property values. Nearby postcodes recorded 39.94% growth in the two years following its launch, outpacing the rest of Sydney at 35.46% over the same period.
Ray White senior data analyst Atom Go Tian pointed to the Southwest's relative affordablity as a key drawcard. "It's starting from a lower price base, which means there's more affordability headroom for buyers."
Infrastructure investment has historically been one of the more consistent drivers of suburb-level price growth – something property buyers and investors tend to keep front of mind.
About the author – Alex Veljancevski is a Sydney Mortgage Broker with Eventus Financial, which assists first home buyers, investors, upgraders and borrowers seeking to refinance to a better deal on their home loan.