SYDNEY METRO WEST PROJECT

SYDNEY

METRO WEST

PROJECT

WHAT IS IT? In November 2016, The NSW Government announced that it is constructing a new metro rail that will connect Greater Parramatta with the Sydney Central Business District (CBD). Stations have been confirmed at Westmead, Parramatta, Sydney Olympic Park, North Strathfield, Burwood North, Five Dock and The Bays Precinct. Sydney Metro West will double the rail capacity between Parramatta and the Sydney CBD, with a travel time target between the two centres of about 20 minutes. This booklet is aimed at providing you information on what the Metro West project is and how it could potentially affect Inner West property prices.

Proposed Metro West Line

Sydney Metro West is a new 24-kilometre metro line. This once-in-a-century infrastructure investment will transform Sydney for generations to come, doubling rail capacity between the two CBDs, linking new communities to rail services and supporting employment growth and housing supply. The project is expected to create about 10,000 direct and 70,000 indirect jobs during construction.

Greater Sydney is planned to grow significantly from a population of 4.7 million to 6.4 million by 2036 (an additional 1.7 million). This is expected to require places for an additional 817,000 jobs and an additional 725,000 homes by 2036 (Greater Sydney Commission, 2018a).

STATION LOCATIONS SYDNEY OLYMPIC PARK The proposed Sydney Olympic Park metro station would be located to the south of the existing Olympic Park Station. Located in the heart of the growing town centre, the station would sit to the east of Olympic Boulevard with the main station entrances between Herb Elliot Avenue and Figtree Drive, and off Dawn Fraser Avenue.

A metro station at Sydney Olympic Park would reinforce its status as Australia’s premier events, sporting and entertainment precinct supporting the transit of more than 10 million people who visit or stay each year.

Proposed construction site for new metro station

NORTH STRATHFIELD The proposed North Strathfield metro station would be adjacent to the existing North Strathfield Station. New metro platforms would sit alongside the existing station and entry to the station would be from a new entrance on Queen Street.

The metro station would help to service the growing Homebush precinct. It would also complement local placemaking strategies to revitalise public areas whilst retaining and attracting new businesses and residents, building on the vibrancy of this growing hub.

Proposed construction site for new metro station

STATION LOCATIONS BURWOOD NORTH The proposed Burwood North Station would be located on the corner of Burwood Road and Parramatta Road, with entrances on both the north and south sides of Parramatta Road.

Burwood North Station would strengthen the thriving business and retail centre to the south of Parramatta Road, and provide a new fast, frequent and reliable transport link for the community north of Parramatta Road.

The station would support the Parramatta Road Corridor Urban Transformation Strategy which includes streetscape upgrades and the creation of new and improved open spaces, urban plazas and town squares, new walking and cycling links and open spaces.

Proposed construction site for new metro station

FIVE DOCK The proposed Five Dock Station would be located off Great North Road, between East Street and then at the corner of Second Avenue and Waterview Street. The station entrance would be located at Fred Kelly Place off Great North Road.

This project would deliver rail to the area for the first time, providing for a fast and direct trip into the Sydney CBD. The new metro station would also provide for an easy interchange with the local bus network along Great North Road.

The metro station would be integrated into the area and support recommendations of council’s ‘Five Dock Town Centre Urban Design Study’, building on Five Dock as a vibrant and friendly village to live, work and visit.

Proposed construction site for new metro station

STATION LOCATIONS THE BAYS PRECINCT The proposed Bays Station would be located between Glebe Island and White Bay Power Station with an entrance to the south of White Bay. It would provide direct access to the proposed future Bays Waterfront Promenade, which would run north to south along White Bay. The Bays Station would be the main link into this new precinct as well as serving the communities of Balmain, Rozelle and Blackwattle Bay. Almost 100 hectares of land at The Bays will be regenerated to become Sydney’s newest harbourside business, technology and education hub with new homes, retail and lifestyle opportunities.

This transformation will happen over the next 20–30 years.

Proposed construction site for new metro station

SYDNEY CBD The Sydney CBD is Australia’s most significant economic and employment hub, generating $96 billion of gross domestic product per year, and is home to major tourist, entertainment and cultural destinations.

A new metro station in the Sydney CBD would take pressure off the existing city stations and provide a new mass transit option to Parramatta, and the growing employment centres along the corridor.

The location of the proposed Sydney CBD Station would be determined following further investigations and community and stakeholder engagement.

Areal view of the Sydney CBD

PLEASE NOTE: The Westmead and Parramatta metro stations will be located near the current train stations, they have been left out of this report as this is based for Inner West residents only.

Sydney Metro will make it easier and faster to get around, boosting economic productivity by bringing new jobs and educational opportunities closer to home.

Sydney is a global city that will experience significant population and employment growth in the coming decades.

Investment in public transport will play an important role in supporting this growth, ensuring Sydney’s future liveability and global competitiveness.

WHAT DOES IT MEAN FOR INNER WEST RESIDENTS?

BURWOOD NORTH A metro station at Burwood North would create a multi-nodal, integrated transport offering along Burwood Road, with two mass transit nodes supporting the Burwood Strategic Centre to the south and the Parramatta Road Corridor Urban Transformation Strategy area to the north. The station would offer residents significant travel time savings, as well as improved connections with key bus corridors coming from the local peninsulas of Concord and Abbotsford as well as Burwood Road.

Concord, Cabarita and the surrounding residents will now have access to a rail network other than Concord West train station. The new metro will encourage people to use public transport easing congestion off Paramatta Road, Queens Road and Lyons Road.

WHAT DOES IT MEAN FOR INNER WEST RESIDENTS? FIVE DOCK (CANADA BAY)

THE BAYS PRECINCT (INNER WEST)

A metro station at Five Dock would open a new rail catchment and deliver significant travel time savings of more than 30 minutes for customers travelling to the Sydney CBD and about 30 minutes for customers travelling to the Parramatta CBD. Five Dock could provide an efficient bus to metro interchange and help relieve the bus network along Parramatta Road, Victoria Road, the Drummoyne peninsula and parts of the Inner West entering the Sydney CBD.

The Bays Metro Station will act as a catalyst for the long-awaited renewal of the area being just 2km away from the Sydney CBD. This major revitalisation of land will encompass almost 100 hectares of land which will divide the precinct into 8 distinct but linked destinations. Some areas will include Blackwattle Bay, Wentworth Park, Glebe Island, White Bay, Rozelle Bay and more. This will recover the White Bay Power Station and create the Bays Market District incorporating a rejuvenated Sydney Fish Market.

Having this new metro pass through Five Dock will allow for less cars on Crane Street leading into Lyons Road, Queens Road and Parramatta Road. This will free up congestion heading into the city, allowing for a shorter travel time by car.

The Glebe Island Bridge will also be reopened to pedestrians and cyclists as well as creating new recreational facilities including an indoor sports centre and multiple outdoor sporting grounds.

ON THE OTHER SIDE OF THE FENCE ARE PEOPLE ARGUING THAT IT WILL HAVE A NEGATIVE IMPACT BECAUSE: • It could potentially force existing railway staff out of jobs. Some are also claiming that the lack of seats would be an inconvenience to people thus making it less attractive to use.

• During the construction phase, homes surrounding the site area may experience a large volume of machinery and vehicles coming in and out of their neighbourhoods which may cause frustration.

• The immediate areas around the new stations will become very congested as the metro will attract a lot of foot and car traffic, making it difficult to navigate through streets.

• If not well planned out and executed, there is considerable potential to cause pernicious environmental effects including vibration, noise pollution and air pollution during both the construction and post-construction phases.

• There will need to be property acquisition to complete this project which means residents may lose some of their • long-term neighbours.

• This project will be extremely costly, deflecting government funding to potentially more needed areas.

WHAT DOES IT MEAN FOR INNER WEST PROPERTY OWNERS? POPULATION PROJECTIONS FROM THE 2016 CENSUS TO 2041: When the government funds a major infrastructure initiative, it tends to have a reasonable impact on property prices, especially in those areas affected. Some of the areas that the Metro West will most likely have an effect on are Homebush, North Strathfield, Burwood, Concord, Five Dock, Rozelle and many more.

Several industry observers, including myself believe that the new Metro West will have a positive impact on property prices, driving them upwards. This is mainly due to the fact that these areas will be able to commute to and from the two CBD’s much quicker, making it more attractive to people, giving commuters better access to employment hubs, education, shops and healthcare.

Combine this with the population growth of these suburbs and it is a formula that leads to property prices rising through the sheer demand needed, although no one can predict the future, as seen with COVID-19.

Burwood (98.1% increase)

Canada Bay (41.6% increase)

Inner West (35.7% increase)

THE GOVERNMENT CLAIMS THAT THE METRO WEST PROJECT WILL: • Significantly cut crowding on three major train lines.

• Take tens of thousands of cars off the roads every day.

• Support the creation of tens of thousands of new jobs in Western Sydney.

(Images taken from the Australian Bureau of Statistics Census 2016)

QUICK POINTS: • Fast travel time - The target travel time between the two centres will be about 20 minutes from the current 33 minutes, allowing residents to use up less time on travel to and from work.

• Turn up and go – The new Metro West will not have a timetable, instead allow people to just turn up to the station and go within 5 minutes.

• Double rail capacity - The current suburban trains can only move a maximum of 20,000 people per hour per line. The new Sydney Metro will double the rail capacity between Paramatta and the Sydney CBD, moving more than 40,000 people an hour in each direction.

• Fully integrated transport network - The Sydney City Centre Access Strategy (Transport for NSW, 2013) is the NSW Government’s plan to deliver a fully

integrated transport network in Sydney’s city centre that puts the customer first and meets the city’s growing transport task. The strategy also provides a clear direction for how all the different transport modes will work together in the city centre to reduce congestion, provide for future growth and improve the customer experience.

• Reduce congestion - The project will also bust road congestion with 83,000 fewer weekday car trips by 2036 and 110,000 fewer by 2056 (according to NSW Government). It will also reduce traffic volumes on Parramatta Road and Victoria Road, improving the reliability of bus services.

• The Forecast for the Parramatta to Sydney CBD corridor by 2036 - 420,000 people will move into the corridor, public transport demand will increase by 36% in the AM Peak and more then 300,000 new jobs will be created (according to the NSW Government).

LEARN MORE ABOUT HOW THE METRO WEST WILL IMPACT YOUR PROPERTY: If you wish to find out more about how the new Metro West will have an effect on your property, contact Arthur Syrios, your Inner West local on 0423 361 864.

Arthur is a licenced Real Estate Agent working at Nicholls and Co Estate Agents. Having grown up in Strathfield whilst going to school in Stanmore, and now living in Cabarita he is

an Inner West local you can trust if you ever need to have a chat about Real Estate.

He is a young, motivated individual who has entrenched his entire life into the world of property. Being tired of the reputation Real Estate agents have gotten in the community, he has made it his mission to treat every client like a human and not a number.

CONTACT ARTHUR SYRIOS – YOUR INNER WEST LOCAL ARTHUR SYRIOS Phone: 0423 361 864 Email: arthur@nichollsandco.com.au Instagram: ArthurSyrios_NandCo Web: www.nichollsandco.com.au

References -Sydney Metro Website - https://www.sydneymetro.info -Sydney Metro West - “Westmead to The Bays and Sydney CBD Environmental Impact Statement Summary 2020” -“Sydney Metro West Project Overview 2019” -“Scoping Report – Westmead to the Bay and Sydney CBD” -Inner West Council - https://wwwa.innerwest.nsw.gov.au -NSW Government https://www.nsw.gov.au/news/more-jobs-and-less-crowding-thanks-to-metro-west -Planning projection. - www.planning.nsw.gov.au/projections DISCLAIMER: The information provided in this e-book is intended for educational and informational purposes only. It is not appropriate for individuals seeking financial planning advice or options.