New infrastructure projects often mean job creation, but knowing which projects will continue to create jobs after they have completed is important to help find a successful hotspot; more jobs means a stronger economy, which means a better chance people will want to live in a given area.
The upcoming Badgerys Creek airport and the surrounding aerotropolis is expected to be a significant job creator, Anna Porter, CEO of Suburbanite said, with industrial, commercial and retail developments expected to funnel through population and income growth.
Liverpool, Greater Penrith and the Campbelltown-Macarthur areas are also expected to experience growth off the aerotropolis.
“Gone are the days where students needed to travel for universities – now these Western Sydney hubs are seeing universities anchoring their presence and also partnering with local hospitals to facilitate health and education opportunities in these locations,” Ms Porter said.
“The RAAF Heavy Air Lift Group and Australian Army Special Forces will find their home bases here which will increase the presence of defence personnel and their respective families in the region, thus likely to take up available housing stock in the surrounding suburbs.”
Housing price growth however will take some time due to the long-term nature of the project.
“We expect this project to set up the Parramatta and Liverpool markets as the ones to watch for the next boom in five to seven years” Ms Porter said.
Original article: Smart Property Investment, 8 January 2019
For the original article as it appeared in Smart Property Investment, click here.