NSW Sydney inner city terrace PPOR - above Sydney metro tunnels?

Hi all,

We are on the hunt for our first PPOR - looking at Sydney inner city terraces with a budget of up to c$1.7m. Looking at Redfern, Glebe, Chippendale, Surry Hills and surrounding areas. Couple in our early 30s, no kids, no pets. We want a two bedrooms + study to allow room for working from home. Parking is a bonus.

One of the properties we like is above the new Sydney metro, and the NSW government had acquired the land underground for tunnels in 2017 - should we steer away? Would it have a negative impact on future CG?

Thanks and appreciate your thoughts.

 

Property with Metro tunnel underneath

 

Thanks Jacque. Mixed opinions on the topic.

 

Personally, yes I would steer away and yes, it'll probably have some impact on CG in relation to its neighbours and streets within the suburb. $1.7m plus is a lot of cash, why gamble?

 

The impact of transport stratum subdivision is much less pronounced than the effects of above ground infrastructure - depression of prices are more in the range of 2-5% from that of comparable unaffected properties. Roads/rail at ground level has more of a visual impact hence price affect.

You must also differentiate between heavy rail, metro & road as each causes a different degree of interruption to the property - rail/metro can cause vibration depending upon the depth of the tunnels & frequency of services. Road tunnels are less disruptive as vehicles are quieter & Run on rubber tyres rather than metal wheels on steel rails.

 

Thanks, appreciate your response!

 

Thanks, really appreciate your insights.