Plum Property Great Western Highway Property Price Report
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What does the <strong>Great</strong><br />
<strong>Western</strong> <strong>Highway</strong> Upgrade<br />
mean for Blue Mountains<br />
<strong>Property</strong> Owners?<br />
Blue Mountains house-price growth is strong on the back of the<br />
highway completion!<br />
House prices in the Blue Mountains have increased almost 20% over the past year, and<br />
the new and improved highway in and out of the region is being credited for the growth spurt.<br />
Wentworth Falls saw the biggest jump in prices with a 29.1% increase year-on-year.<br />
Katoomba also saw a solid rise in prices over the last year at 21.1%. In Springwood, prices<br />
increased 16.7% year-on-year, a house that sold for $480,000 in March 2013 was sold<br />
again two years later for $638,000, a gain of $158,000.<br />
One Year Growth<br />
Blue Mountains Growth by Suburb<br />
Median House <strong>Price</strong><br />
600<br />
25<br />
500<br />
20<br />
400<br />
15<br />
300<br />
10<br />
200<br />
5<br />
100<br />
0<br />
0<br />
Wentworth Falls<br />
Katoomba<br />
Springwood<br />
Winmalee<br />
Hazelbrook<br />
Blackheath<br />
Blaxland<br />
Leura<br />
The price surge coincides with the transformation of the region’s main artery, the <strong>Great</strong> <strong>Western</strong><br />
<strong>Highway</strong>, from a two-lane road to a dual carriageway.<br />
According to many local agents, the highway’s completion in July this year has resulted in an<br />
influx of visitors to the area and interest in property has grown.<br />
Domain Group senior economist Dr Andrew Wilson said the area would continue to grow<br />
due to a number of factors, the main reason being affordability.<br />
Claire Schmidt-Rees T/A <strong>Plum</strong> <strong>Property</strong> Blue Mountains (the agent) have endeavoured to show all statistics reported by and as listed on<br />
publically available sources for the mentioned period. We believe this information to be accurate. Whilst all care has been taken, no<br />
responsibility is accepted for the accuracy of the whole or any part of this document. Individuals are directed to rely on their own enquiries.<br />
Please disregard this publication if your property is exclusively listed with another agent. Data displayed is only that which has been made<br />
publically available in the following sources: realestate.com.au, domain.com.au and rms.nsw.gov.au. We advise you seek independent advice<br />
on your area statistics if you are thinking of buying or selling.<br />
Wentworth Falls<br />
Katoomba<br />
Springwood<br />
www.plumpropertybm.com.au<br />
Winmalee<br />
Hazelbrook<br />
Blackheath<br />
Blaxland<br />
Leura
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