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NSW Sydney Metro - Kellyville Station Precinct Proposal

Discussion in 'Where to Buy' started by Rich W, 16th Feb, 2016.

  1. Rich W

    Rich W Well-Known Member

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    I'm new here, please be kind... Not sure how many on here are familiar with the new North West Sydney Metro line due to be completed early 2019, however just recently the NSW planning released a draft proposal for the Kellyville Station precinct. See it here: Department of Planning and Environment - Kellyville

    A number of houses look like they will be re-zoned to high density residential. My house (owner occupied) is currently within the 800m radius station precinct map however unfortunately(or fortunately??) has not been rezoned as its on the edge not as close to the station.

    Obviously the houses that are set to be rezoned could be on a potential gold mine, however I was wondering if my house would potentially be affected by this in the next 2 to 3 years positively or negatively? What's the purpose of putting my house within the 800m precinct but not be re-zoned?

    I've already heard the Facebook post grumbles from owners who don't want high rises in the area however on a purely financial aspect specifically for Stanhope Gardens, how would you view these proposed changes for my property?
     
  2. wombat777

    wombat777 Well-Known Member Premium Member

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    My PPOR is in 'The New Rouse Hill' so have been monitoring the developments closely. The precinct plans also reveal some of the development planned for closer to my place.

    I can see that you would be disappointed, missing out on the possible benefits that rezoning might have for your property value. One bonus however is that the significantly increased proportion of medium to high density in the Kellyville Station precinct will help to increase the value of free-standing houses. Looking at the maps only about 30% of the area with in the 800m radius remains as low-density. That significantly reduces the supply of freestanding houses close to the station. People like to live close to public transport for the convenience of not using a car. Not all of those people want to live in shoeboxes.

    That's my take on it anyway.

    Note - Once the rail link opens, the trip to the major employment hub at Macqaurie Park will only be about 30 minutes. The train trip to norwest business park will be approx 5 minutes.
     
  3. Rich W

    Rich W Well-Known Member

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    Thanks for that. The problem I face is that I'm considering selling up for family reasons. I just don't know if the prices in the area have already factored in the future rail line. Plus if the plans go ahead the place will be packed with no plans for any new future schools either. More crime etc? Less desirable for family living. That's the trade off for having good transport connections I guess. I've been here 8 years so already made a good healthy gain on the property. Just dont know if there are any rises for a few years to come plus possible decline/correction.
     
  4. wombat777

    wombat777 Well-Known Member Premium Member

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    I think a significant correction in the vicinity of the stations is unlikely. I would say modest growth until and just after the railway comes online.

    I will be getting my place revalued in a few months time. That will be telling, along with sales data for Q1 2016. Auction stats in Sydney have certainly bounced back strongly.
     
  5. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Me personally, I wouldn't be selling that property unless I REALLY had too. If you are really that well located to the new station I'd be looking to hold it.
    But obviously, you're not me.