The New Waterloo Metro Line

May 31st, 2018 - by Brad Gillespie

The new Sydney Metro is a massive infrastructure project which will see driverless trains run between Rouse Hill and Bankstown as part of a new line which has an expected cost of between $11.5 and $12.5 billion.

A new station is planned for Waterloo and local residents will have noticed that construction is already underway on Raglan Street and Botany Road.

The Sydney Metro will transform the inner city transport options in Sydney and might even see changes to house prices in the nearby areas of Redfern, Erskineville and Alexandria. Here’s what you can expect over the coming months.

The Sydney Metro: connecting North and West Sydney

The new Sydney Metro is the largest public transport project in Australia and will see new driverless trains running between the Hills district and Bankstown via North Sydney, Barangaroo and the Inner West.

Construction of the network is already underway and the entire project is set for completion by 2024, at which time a train is planned to run every four minutes in peak hour. Stage 1 is due to open in 2019, connecting Rouse Hill to Chatswood. Stage 2 is due for completion in 2024, connecting Chatswood to Bankstown - which will include Waterloo.

In Waterloo, a new underground Sydney Metro station is planned on the block between Botany Road, Cope Street, Raglan Street and Wellington Street. The station will be 25 metres below ground level and will also provide the connection between bus services on Botany Road and additional connections to Redfern Station.

The station will feature shops and convenience stores, a kiss-and-ride drop off area, and new pedestrian crossings on Raglan and Cope streets.

A new transport option

The inner city already has amazing transport links, with many parts of Alexandria already walkable to Redfern, Green Square and Erskineville stations, and regular buses down Botany Road. The new Sydney Metro rail line is going to further enhance these, making the area even more appealing to residents.

The Sydney Metro is also set to provide commuters with relief from the current crowded conditions of train and bus travel and will be faster than current transport options, as the commute from Waterloo station will take an estimated two minutes to Central and six minutes to Martin Place.

Set to enhance property prices

While the construction of the Sydney Metro may cause a temporary inconvenience for local residents, the long-term impacts of this improvement are already being felt, and nowhere is this more apparent than on the property market.

We’re already seeing properties advertised as being close to the proposed Metro station, and construction has not even been completed yet. We expect that prices will reflect the appeal of this convenient transport option for those who commute to the city or who need to travel South West or North for work.

The station is also set to contribute to a renewed commercial hub at Waterloo, which can only enhance property value as Waterloo and Redfern become what the State Government refers to as a “Global Economic Corridor.”

This will add to the appeal of the local area and will likely lead to an increase in cultural options for residents, including cafes, restaurants, and entertainment options.

If you’re interested in buying or selling in Waterloo or Alexandria, contact our team today.