Is Leppington the new growth hotspot?

As supply for affordable housing continues to diminish, Sydney home buyers are searching to find the next affordable pocket.

With Greater Sydney’s growing population rising above the 5.2 million mark and expecting to reach 8 million over the next 40 years, the question remains – where will all the additional residents live?

The solution proposed by the Greater Sydney Commission is to develop Sydney’s west and south west beyond Parramatta. Under the new ‘Greater Sydney Region Plan’ this area will house up to half of the new incoming population – attracting new home buyers and investors to look at locations like Leppington as the new growth hot spot.

Here are three reasons why investors, home buyers and the Ironfish Research team have a spotlight on Leppington:

Leppington and the Greater Sydney Region Plan

To address and prepare for Sydney’s increasing population, the Greater Sydney Region Plan seeks to transform Greater Sydney into a metropolis of three cities – each with its own CBD.

  1. Eastern Harbour City surrounding the current CBD, which has reached dense maturity and housing supply.
  2. Central River City surrounding Parramatta which has seen heavy infrastructure development.
  3. Western Parkland City planned around the $5.3 billion Western Sydney Airport (Badgerys Creek) which will become one of Australia’s Aerotropolis city of the future.

 

Federal Minister for Urban Infrastructure and Cities, Paul Fletched comments that “the airport will transform Western Sydney, creating thousands of jobs and encouraging economic growth and investing in the region”

As part of the plan to meet the needs of Sydney’s growing population, the goal is to make each city a metropolis aimed for convenience and continual growth. The Western Parkland City is arguably set to benefit from the biggest infrastructure spend. Already tens of billions have been invested in the new airport, road network and north-south metro train line. This makes the Western Parkland City a key area for investors to focus on, and Leppington in particular which has only one of only two train stations south of the M4 and West of the M7.

Leppington’s connectivity to the rest of Sydney

A core factor for any precinct’s growth is the transport infrastructure connecting local, district and metropolitan communities. With the $8.3 billion Sydney Metro Northwest line now complete connecting Tallowing to Chatswood, the Federal and NSW State Government have agreed to fund a $7 billion north-south rail link to run from St Mary’s in North West Sydney down to Badgerys Creek Airport and later further to Macarthur.

This new rail link is designed to position residents within a 30-minute commute with up to 200,000 jobs across ‘Western Parkland City’ in the next 20 years. An additional South West Rail Link Extension will also connect Leppington Station to the North South Link allowing residents close access to benefit from Greater Sydney’s master plan.

So how do these developments translate to real world travel for Leppington residents?

  • 41 mins from Leppington Station to Parramatta Station
  • 51 mins from Leppington Station to Central Station

At the same time, a $3.6 billion Road packages includes a $1.6 billion Northern road upgrade, a new $1.3 billion M12 motorway connecting directly to the M7 motorway from the Western Sydney Airport and an additional $509 million upgrade to Bringelly road which will form a substantial network to ensure connectivity in the Western City.

 

(images sourced from CBRE)

Leppington’s innovative approach to precinct development

As part of NSW’s new state-wide approach to precinct planning, Leppington benefits from a system focused on planning around people, places, public spaces and the environment. In addition, Leppington as a newly released precinct within the south west growth area will see exponential growth in infrastructure development as part of the integrated planning and city-shaping approach. As such, investors and home buyers are looking at Leppington as a purposefully designed residential location rarely found in other regions across Sydney.

“The Western City offers an amazing opportunity for all three layers of Government, at Local Council, State and Federal levels. It is incredibly rare to have such a significant parcel of what is largely farm land, to completely plan and design a new city. Given the majority of land is farmland, it is easier to plan, and faster to build and execute the infrastructure required for a brand new city.”, said Will Mitchell, Ironfish Head of Property. “The change that will take place in this part of Sydney over the coming years will be significant. As a result, we anticipate substantial population growth and resulting increased demand for property”.

 

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