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Landowners around new Western Sydney airport will have land value preserved, NSW valuer general finds
Land owners around the new Western Sydney airport with properties flagged as green space will see the value of their land preserved, according to a new report by the NSW valuer-general.
Key points:
- Land values rose fast amid speculation about future zoning around the new airport
- Land in the Badgerys Creek precinct increased by 238 per cent in the years before being rezoned
- Green space zoning had seen some local land values “sterilised”
The report, released on Wednesday, analysed the impact of rezoning around the Western Sydney airport since 2016.
It found that land values rose fast with initial speculation about future zoning as the property market anticipated the potential impacts.
“Land values then stabilise when rezonings are…
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