Increased investment and economic growth in South Western Sydney’s Growth Corridor suburbs are expected after the federal government announced that construction has began on Badgerys Creek Airport.

It was reported that Edmondson Park, Menangle Park, Oran Park, Bardia, Leppington and Harrington Park are some of the suburbs seen to benefit from the multi-billion dollar financial injections into Badgerys Creek and South West Growth Corridor.

Ernst & Young revealed that construction of Badgerys Creek Airport alone is anticipated to return an additional $1.9 billion in value-add for the Western Sydney economy, on top of the $140 million across the rest of Sydney. Five years after opening in 2031, the airport would bring in around $77 million in value-add for Western Sydney and $145 million across the rest of the city.

Dahua Group Australia Chief Executive Officer Eric Li said that this news was positively welcomed by the industry players.

“The private sector, state and federal governments are all collectively pumping billions of dollars into the area, which is fast becoming the epicentre of Sydney’s development activity. Hundreds of jobs are being created, new businesses are opening, home frames are everywhere and several cranes are visible across the [Western Sydney] region,” he said.

“Major infrastructure projects are either about to start or have already started. New roads, hospitals, schools, sports and recreational facilities and education precincts will service population growth in the area.”

Li further underscored the importance of a well-planned infrastructure in attracting investors. “Infrastructure both existing and future including Badgerys Creek Airport has been a catalyst to drive purchasers into the project,” he noted.

For reference, the state government has committed to inject over $3.6 billion in its Western Sydney Infrastructure Plan over a decade. Parts of this plan are investment in transport (bus and rail), health, education and community infrastructure

Given the state of things, it was found that master planned communities which are located in the South West’s fastest growing suburbs are already taking advantage of their location.

Campbelltown, for instance, is in the middle of the South West Growth Corridor. It is envisioned to be at the forefront of Sydney’s metropolitan development because of the forecasted population growth in the area. From 158,941, the population is seen to increase to about 300,000 by 2036, according to the National Institute of Economic and Industry Research 2015.

“Campbelltown is one of Australia’s fastest growing cities and will be less than 30 minutes from the Western Sydney Airport, providing significant economic stimulus. Overseas investment interest continues to grow in this region and is expected to accelerate when the airport arrives,” Campbelltown City Council General Manager Lindy Deitz commented.

“Our focus is to ensure the three regional centres – Campbelltown, Penrith and Liverpool have strong connectivity to the airport. The airport will create a lot of business and employment opportunities, however the fundamental metropolitan cities need to be anchors where people live, work and play.”

Deitz added that Campbelltown is transforming into a major metropolitan destination. In fact, the masterplanned community New Breeze by Dahua is in Campbelltown’s Bardia.

As such, it is foreseen that South Western Sydney’s Growth Corridor will fuel Australia’s economic growth and affluence.

As published in Your Property Investor