Aerotropolis sparks a selling surge

Aerotropolis sparks a selling surge

A handful of Liverpool hot spots are a hive of activity as work takes off at the site of the city’s second airport.

Local infrastructure boosts and property market shifts are moving in line with the construction at Badgerys Creek, where the Western Sydney Airport is set to open in 2026.

One of many homes to hit the market recently off the back of progress less than 15km away is 120 Herley Ave, Rossmore.

The acreage property, which is also about 6km from the new Leppington train station, sold for $1.6 million after just two weeks of marketing through agents Brent Bargallie and Mark Bargallie. It had previously been on the market for more than a year.

The father and son duo of United Realty — Acreage, Residential, Prestige — Bringelly found the buyer on their database.

“It went to someone that we knew was looking specifically for a property in the Rossmore area,” Brent Bargallie told the Liverpool Leader.

“They liked that it was going to be part of the aerotropolis and wanted to have land to hold in that area,” he said.

With a potential rent return of $400 to $450 a week, the 2.17ha block houses an old three-bedder with a slow combustion fireplace and cathedral ceiling.

The agent said it had been kept in the one family for decades when it hit the market, and the vendors were pleased with the result.

CoreLogic records reveal it last changed hands in 1930 for $275,000, meaning the vendor family made five times the amount they had spent almost 90 years ago.


Mr Bargallie said more residents were looking to list their homes for sale and make a buck.

“A lot of people I have been talking to for four or five years are now looking to sell,” he said.

“However, some are still holding their properties until the airport’s construction is complete.”

Until now, the area has been tightly held with residents staying there for 14.4 years. This compares to nearby suburb Hoxton Park, which has a median hold period of 7.5 years.

Source link