Mercedes Ruehl from the Australian Financial Review writes: Parramatta is expected to be the biggest winner from the promised WestConnex motorway.
Jason Anderson, MacroPlan's Chief Economist, said the first leg would benefit the outer western suburbs such as Parramatta, rather than suburbs like Five Dock and Haberfield which are closer to the city.
“I would be focusing on Parramatta rather than the suburbs closer in for any benefit to house prices,” he said.
“The problem with the inner-west argument is you are already pretty close to the Westlink anyway, you can get there pretty easily.”
Parramatta is set to see a lot of new development. MacroPlan’s Mr Anderson said WestConnex involved spending money on upgrading Parramatta Road. “Getting an apartment project going on Parramatta Road, it will be much easier than it is today,” he said.
MacroPlan has recently undertaken studies in the Outer Western Suburbs. Contact Jason Anderson, Chief Economist today to discuss your property research requirements.