As a leading property buyer’s agent in Sydney’s vibrant Inner West, we at Buyer’s Domain have been closely monitoring the impact of major infrastructure projects on the local property market. Our extensive experience and in-depth market knowledge have given us unique insights into how these developments are shaping investment opportunities in suburbs like Leichhardt, Marrickville, and Dulwich Hill.
Sydney’s Infrastructure Boom
Sydney is currently experiencing an infrastructure boom, with the NSW Government investing over $110 billion in projects across the city.
These projects range from transport upgrades like the Sydney Metro and WestConnex to healthcare facilities and cultural precincts. The Inner West, in particular, is set to benefit from several key initiatives that are transforming the area’s connectivity, liveability, and economic prospects.
Light Rail and Metro: Connecting the Inner West
One of the most significant infrastructure projects impacting the Inner West is the CBD and South East Light Rail.
This 12-kilometre line connects Circular Quay to Randwick and Kingsford via Surry Hills, Moore Park, and Kensington. By providing a direct link between the Inner West and the CBD, the light rail has made suburbs like Leichhardt and Dulwich Hill even more attractive to professionals working in the city centre.
Another game-changer for the Inner West is the Sydney Metro West. This underground metro line will connect Parramatta to the CBD via Westmead, Sydney Olympic Park, The Bays Precinct, Five Dock, and the Inner West. With stations planned for Leichhardt and Pyrmont, the metro will significantly reduce travel times and increase accessibility for residents and workers in these areas.
WestConnex: Driving Economic Growth
The WestConnex motorway is another major infrastructure project that is transforming the Inner West. By connecting the M4 and M5 motorways, WestConnex is improving travel times and reliability for commuters and freight vehicles. This enhanced connectivity is driving economic growth in the Inner West, with businesses benefiting from better access to markets and suppliers.
The Rozelle Interchange, a key component of WestConnex, is also set to deliver significant benefits to the Inner West. This underground interchange will provide a direct connection between the M4-M5 Link and the City West Link, reducing congestion on local roads and improving access to the CBD. The interchange will also feature a new park and active transport links, enhancing the liveability and amenity of the surrounding area.
The Bays Precinct: A New Innovation Hub
The Bays Precinct, located on the western edge of the Inner West, is undergoing a major transformation that will create a new innovation and employment hub. This 95-hectare waterfront precinct will feature a mix of residential, commercial, and cultural spaces, as well as a new Sydney Fish Market and a revitalised White Bay Power Station.
The Bays Precinct is expected to generate thousands of new jobs and attract significant investment to the Inner West. With its proximity to the CBD and excellent transport links, including the future Sydney Metro West, the precinct is set to become a major drawcard for businesses and residents alike.
The Impact on Property Investment
These infrastructure projects are having a profound impact on property investment in Sydney’s Inner West. By improving connectivity, liveability, and economic prospects, they are driving demand for housing in suburbs like Leichhardt, Marrickville, and Dulwich Hill.
As a result, we are seeing strong capital growth and rental yields in these areas. According to recent data from CoreLogic, house prices in the Inner West have risen by 8.4% in Abbotsford and 7.8% in Lewisham over the past year. Units have also performed well, with prices increasing by 7.7% in Russell Lea and 7.5% in Hurstville.
Looking ahead, we expect the Inner West to continue to outperform the broader Sydney market. With several major infrastructure projects still in the pipeline, including the Sydney Metro West and the Bays Precinct redevelopment, there is significant potential for further capital growth and rental demand in the coming years.
Investing in the Inner West: Our Recommendations
For property investors looking to capitalise on the Inner West’s growth potential, we recommend focusing on suburbs with strong transport links and proximity to key employment hubs. Leichhardt, Marrickville, and Dulwich Hill are all well-positioned to benefit from the light rail, metro, and WestConnex projects.
When selecting a property, it is important to consider factors such as location, amenities, and potential for value-adding. Properties close to transport nodes, shopping centres, and schools are likely to be in high demand from both renters and future buyers. Older properties with scope for renovation or redevelopment can also offer excellent returns, particularly in gentrifying suburbs like Marrickville and Petersham.
As always, it is crucial to conduct thorough due diligence and seek professional advice before making any investment decisions. At Buyer’s Domain, our team of experienced buyer’s agents can provide expert guidance and support throughout the property buying process, helping you to identify the best opportunities and negotiate the best possible price.
Conclusion
Sydney’s Inner West is undergoing a major transformation, driven by an unprecedented level of infrastructure investment. From transport upgrades to innovation precincts, these projects are enhancing the area’s connectivity, liveability, and economic prospects, creating exciting opportunities for property investors.
As a leading buyer’s agent in the Inner West, Buyer’s Domain is well-placed to help investors navigate this dynamic market and achieve their investment goals. With our deep local knowledge, extensive networks, and proven track record, we can provide the insights and support you need to succeed in Sydney’s thriving Inner West property market.
