NSW Suburbs boosted by the Parramatta Light Rail

Hi all,

What are your thoughts on suburbs that are affected by the Parramatta Light Rail (Westmead, Camellia, Rydalmere, Telopea, Carlingford etc)?

As you may know, Carlingford has had alot of activity over the past few years and transport is way overdue for the area (although linking railway to Epping would be more desirable). Telopea has a masterplan in place already but there are less active suburbs like Rydalmere, Dundas and Camellia. These suburbs seem to be good places to bank on in light of this development.

Do you agree or do you think market movements will remain slow in those areas?

 

its nice to have access to paramatta but it still doesnt get you into the sydney CBD faster does it (like the original epping plan)?

 

doesn't matter if people have to change trains at Parra. They will still like

 

I suspect that North Parramatta, particularly New street and Factory street will boom. Some parts of North Parramatta (eg New Street) have had below average growth for several reasons, including the absence of a rail or light rail link, nearby shelters/ hospices (in New Street), prison, light manufacturing/ industrial business (around Church street).

I think that will change with the light rail link station in Factory street.

Tony

 

North Parramatta seems to have good exposure - All other affected suburbs seem to have train stations already so N.Parramatta would probably get the most out of this light rail. Although prices seem quite inflated in the area already (3 bed houses ~$1m).

Nonetheless investing in these light rail areas will most likely be accompanied by low yield throughout the development period. Will the payoff from the light rail justify the years of outlays? Would there be areas where your investment would be more worthwhile?

 

The Camelia > Carlingford light rail is simply the existing train line repurposed.
Didn't do anything then, can't see it doing anything now.

Now if you extended it Epping where it could connect to bucketload more services then that would be the game changer.

I've been waiting on this change to happen for over 12-13 years.... still waiting.
Don't know why they never did the train line from Parra through Carlingford line to Epping.

 

Did the light rail through the inner west have any effect on prices?

 

It's rather difficult to isolate the effects of light rail on the inner west prices. Though it should be noted that there is a significant increase in ridership since the opening of the Dulwich Hill Line (from 3.9m to 9.7m over the 2 years to 2016). The usage is poised to increase significantly once this line is connected to Circular Quay and other areas of the CBD. This niche and uncongested convenience ought to have a certain level of influence over the inner west prices.

The Parramatta Light Rail might experience a more evident influence since it will connect to Parramatta CBD from day 1.

 

The PRL will get a significant boost in patronage if/when it is linked to Epping instead of just being a point to point transport route which is great for funnelling people into Parramatta but useless for any further travel.

Areas either side of the innerwest light rail eg parts of Haberfield, Leichhardt had significant increases in values due to improved accessibility. The streets closer to Hawthorne Parade were seen as the poor cousin of the rest of Haberfield but now command a premium.

 

I have to agree on this.

 

Telopea will boom. Light rail ready by 2023 and housing commissions knockdown... rebuild ...just got reported in the news...

 

Telopea to be redeveloped

 

I walked along the train line from Dundas to Rydalmere this morning... There's a street of houses just south of Dundas station and they look ripe for development! Good little pocket; very quiet and peaceful too...

 

I believe the odd pocket but very hard to discern. I have some friends who live in Dulwich Hill who say it is a lot slower (30mins) to get into CBD then bus or train.

great if you are a pensioner wanting to go the casino though!