House prices in the Mountains are surging as more Sydneysiders turn to the hills, attracted by better transport links and more employment opportunities in the west.
Every weekday morning roughly 20,000 people now start their commute by train from the Mountains, with the majority getting on at Springwood, followed by Blaxland and Glenbrook Stations.
A spokeswoman from Transport for NSW said that use of the Mountains line has increased by 9 per cent in the past 12 months.
Property prices in most townships in the Mountains are also on the rise and as Sydney’s west continues to develop, experts say further price increases are expected.
The region as a whole has seen 12.5 per cent price growth over the past year and 52.8 per cent growth from five years ago when the median was $392,600, according to Domain Group data.
The median house price in the Mountains is now $600,000.
Domain Group chief economist Andrew Wilson said the fact the west was evolving as a separate entity to the rest of Sydney was benefiting the Blue Mountains region.
“The new airport will bring a lot of jobs to the area. I’m not surprised that it’s strong,” he said. “There’s certainly a lack of stock up there.”
Leura’s median house price based on the last six months is $661,000, up 47.3 per cent from five years ago.
In Springwood, the median is now $590,000 (up 6.3%) and in Hazelbrook, growth has been up 26 per cent, with a median price now at $524,500.
