New homes, road upgrades and Western Sydney Airport drive prices up in Rossmore

 

Home values have doubled in the Liverpool suburb of Rossmore since 2014 and soared 39.9% in 12 months. This suburb is skyrocketing to new heights with thanks to major development and infrastructure boosts, such as the Western Sydney Airport. The median house price has doubled since 2014, reaching $3,388,500. Figures from CoreLogic reveal the area has seen a staggering 39.9% growth in just the 12 months to April.

Agent Charlie Cini from United Realty said, “A lot of good judges think it will be the next area to be rezoned so anything you can acquire there will see a hefty profit margin if you hold it for a few years.” He also stated that the “Airport is obviously a big plus too but the other infrastructure being put in place like the Bringelly Rd and Northern Rd upgrades are probably carrying more weight at this stage.”

Mr Cini sold 56 Rossmore Cres for $3 million in March. The property went to an investor who liked that it is 800m from the proposed Rossmore train station after attracting plenty of buyer interest.

The NSW Government is rolling out plans to deliver more than 17,000 homes in the Rossmore neighbouring suburbs of Austral and Leppington North. A typical property in Rossmore spans about 2ha and has at least 1 house on the expansive block of land. On average, residents live there for 20.5 years and have raised their families in the area over the past 30 years.

Bringelly is another adjoining suburb, located near Badgerys Creek, and is set to be linked to the aerotropolis via the planned North-South Rail Link. Nerida Conisbee, the chief economist from realestate.com, said “Bringelly was the strongest performing suburb in Sydney in 2017. It looks like Rossmore is following in 2018.” Areas west of the CBD are expected to continue to be a focus of growth in the future for many reasons, particularly the delivery of the new airport near Badgerys Creek.

“The area around the new airport has been designated as Sydney’s third city. New jobs here will drive demand for housing.”

Read more: News.com.au