There’s no denying it – easy access to public transport is a top priority for many home buyers. However, with increased demand, comes increased prices.
That’s fine if you’re an existing homeowner experiencing strong growth in your property’s value. But what if you’re a first home buyer? What if you need to commute every day to the city for work? Finding the right location for your first home on a limited budget becomes much harder.
You may find yourself in the unenviable position of having to live far from transport links, adding significantly more time to your daily commute.
When considering where to purchase your first home, it’s worth taking the time to look at where plans are currently in place to build future transport hubs. These areas can represent excellent value for money, as the properties have yet to realise significant increases in valuations.
However, once the new transport links are in place, you can expect that these areas will experience strong price growth.
So where is a good place to look for your first home?
The NSW Government has recently committed to building the new Sydney Metro West, linking the CBD to Parramatta. This new driverless metro line will ensure fast and efficient connectivity, with trains departing every four minutes during peak hours. The commute between Sydney’s main business centres is expected to be around 15 minutes. It will also reduce overcrowding on existing train lines.
The proposed route runs directly through the area of Sydney in which Devine Real Estate specialises, including Concord, Drummoyne and Strathfield, as indicated by the shaded area of the map below.
Source: https://www.sydneymetro.info/sites/default/files/document-library/Sydney-Metro-West-Project-Overview-March-2018.pdf , p.27 (Accessed 1 May 2018)
Although construction is still several years away, it has already been confirmed that the new metro line will intersect with the existing T1 Northern Line at either Concord West or North Strathfield.
This means that those who live close to the new stations will have incredibly quick and easy access to both the city and Parramatta.
That’s got to be good for long-term property values!
It’s worth noting that property prices along the new North-West Metro link, from Rouse Hill to Epping, have jumped by as much as 25%! And the line is still two years away from completion!
There’s no reason to think that properties around the planned Sydney Metro West project won’t experience similar price rises.
Devine Real Estate is ideally placed to help you take advantage of these opportunities when finding your first home. Our award-winning team knows the local area better than any other estate agency, because we’ve been specialising in this market since 1955.
In that time, we have established ourselves as the Number 1 real estate brand in Sydney’s Inner West – giving you unsurpassed access to buying opportunities in the area!
Let Devine Real Estate find you the right home in the right location – and ensure your first step on the property ladder is a success! Don’t forget to connect with us via social media to stay informed as soon as new properties that meet your needs come onto the market.
Happy House Hunting!