More than 100,000 people lined up to try out the Sydney Metro North West Line on opening day on Sunday, May 26.
About 36km long with 13 stations between Tallawong Station at Rouse Hill and the Chatswood Interchange, the ‘turn up and go’ service provides an easier commute to the CBD within 1 hour from Rouse Hill, about 50 minutes from Kellyville and Bella Vista and 45 minutes from Castle Hill.
The north west is a crucial growth area for Sydney’s long-term future. It’s got the land we need to service ongoing population growth and the development of new communities, housing, schools, recreation areas, shops and job centres.
The NSW Government has rezoned large swathes of land to make way for this growth. The north west region is expected to contribute about 12% of the new homes needed in Sydney to meet demand over the next 20 years.
Major transport projects such as the Sydney Metro are critical to service the 250,000 people who will live in the north west once the region is fully developed.
Developers are proactively acquiring large parcels of land for residential development, particularly around Tallawong Station, not far from Rouse Hill Town Centre.
About 18,000 new homes are expected to be built by 2021 and 33,000 new homes by 2026. A lot of new apartments have already been built in close proximity to the stations.
Major business hubs are situated along the new train line, including Norwest Business Park and Rouse Hill Town Centre, both of which have their own stations. Our McGrath Rouse Hill office is situated in the Rouse Hill Town Centre and we think the Metro will be a game-changer for the area.
Agent Phillip Nicholas of McGrath Rouse Hill says 90% of today’s buyers ask him about the new train network. Many of them say they would never have considered buying in the north west without it.
Although there are growing job centres in the region, access to Sydney’s CBD remains important. The Metro North West will remove a major barrier for aspiring home buyers who would love to take advantage of the value out there but until now have perceived the city commute to be too difficult.
It’s a fantastic time to buy, with local property prices dropping in line with the rest of Sydney over the past couple of years. No doubt, the new train line will provide a boost to price recovery across the north west once the bottom of the market has passed.
Family homes, in particular, that are walking distance to brand new train stations will benefit the most.
Here’s what’s happened to house prices in the suburbs that now have train access for the first time ever on the Sydney Metro North West Line.
Median house prices
- Rouse Hill: $1,031,000 (down from $1,160,000 at peak in 2018)
- Kellyville: $1,102,500 (down from $1,230,000 at peak in 2017)
- Bella Vista: $1,508,500 (down from $1,736,000 at peak in 2017)
- Castle Hill: $1,360,000 (down from $1,620,000 at peak in 2017)
- Cherrybrook: $1,450,000 (down from $1,550,000 at peak in 2017)
Anyone see opportunity here?