Plum Property Great Western Highway Property Price Report

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Stages of the Great Western Highway Update The upgrade of the highway to a four lane divided road started with the bypass of Springwood in 1965, with other sections of the highway being upgraded over the past 35 years, all being funded by both the Australian and NSW Governments. An overview of the projects that have been completed over the last two decades include: 2000 Valley Heights: new pedestrian bridge & Warrimoo; four lane upgrade and pedestrian bridge at railway station. 2001 Blaxland: parking improvements and pedestrian bridge to the railway station. Faulconbridge: four lane upgrade and pedestrian bridge to the railway station. 2002 Mt Victoria: improved alignment and overtaking lane. Linden: four lane upgrade, new bridges and pedestrian signals. Faulconbridge: parking, pedestrian and cyclist improvements. Medlow Bath: improved alignment, replacement bridge and new signalised intersection. 2004 Katoomba: four lane upgrade, two new bridges, new traffic signals. 2005 Lapstone Hill: safety improvements, median barrier extended and wider shoulder for cyclists. Wentworth Falls West: four lane upgrade between Falls Road and West Street, including three improved intersections and a new off-road shared pedestrian/cyclist path. 2006 to 2009 Leura to Katoomba: four lane upgrade from Willow Park Ave, Leura to Bowling Green Ave, Katoomba. 2010 to 2012 Lawson: four lane upgrade between Ferguson Avenue, Hazelbrook and Ridge Street, Lawson. Wentworth Falls East: four lane upgrade between Emu Plains and Katoomba, including the provision of service roads in some locations and direct access driveways in others. 2014 Woodford to Hazelbrook: four lane upgrade from Station St, Woodford to Winbourne Rd, Hazelbrook. Bullaburra West: four lane upgrade from 400 metres west of Genevieve Rd, Bullaburra to Tableland Rd, Wentworth Falls. 2015 Bullaburra East: four lane upgrade from Ridge St, Lawson and 400 metres west of Genevieve Rd, Bullaburra. www.plumpropertybm.com.au
What does the Great Western Highway Upgrade mean for Blue Mountains Property Owners? Blue Mountains house-price growth is strong on the back of the highway completion! House prices in the Blue Mountains have increased almost 20% over the past year, and the new and improved highway in and out of the region is being credited for the growth spurt. Wentworth Falls saw the biggest jump in prices with a 29.1% increase year-on-year. Katoomba also saw a solid rise in prices over the last year at 21.1%. In Springwood, prices increased 16.7% year-on-year, a house that sold for $480,000 in March 2013 was sold again two years later for $638,000, a gain of $158,000. One Year Growth Blue Mountains Growth by Suburb Median House Price 600 25 500 20 400 15 300 10 200 5 100 0 0 Wentworth Falls Katoomba Springwood Winmalee Hazelbrook Blackheath Blaxland Leura The price surge coincides with the transformation of the region’s main artery, the Great Western Highway, from a two-lane road to a dual carriageway. According to many local agents, the highway’s completion in July this year has resulted in an influx of visitors to the area and interest in property has grown. Domain Group senior economist Dr Andrew Wilson said the area would continue to grow due to a number of factors, the main reason being affordability. Claire Schmidt-Rees T/A Plum Property Blue Mountains (the agent) have endeavoured to show all statistics reported by and as listed on publically available sources for the mentioned period. We believe this information to be accurate. Whilst all care has been taken, no responsibility is accepted for the accuracy of the whole or any part of this document. Individuals are directed to rely on their own enquiries. Please disregard this publication if your property is exclusively listed with another agent. Data displayed is only that which has been made publically available in the following sources: realestate.com.au, domain.com.au and rms.nsw.gov.au. We advise you seek independent advice on your area statistics if you are thinking of buying or selling. Wentworth Falls Katoomba Springwood www.plumpropertybm.com.au Winmalee Hazelbrook Blackheath Blaxland Leura
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Plum Property Great Western Highway Property Price Report

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