New Report Highlights Advantages Of Second Sydney Airport
Sydney property investors may be interested to learn that a second international airport looks to be on the way for the New South Wales capital.
A report released by the NSW Business Chamber on August 13 has outlined three potential growth scenarios for a second Sydney airport, and has modelled the economic outcomes of each option.
According to the report, building the second airport at Badgerys Creek, about 50 km west of the CBD, will generate more than 28,000 new jobs in Western Sydney by 2050.
In addition, a Badgerys Creek airport which opens in 2027 will also generate more than $6.5 billion in additional economic output for Western Sydney over its first 23 years of operation.
“The Badgerys Creek site is not only the preferred location for Sydney’s second airport from an aviation perspective; it would also stimulate the surrounding local government areas through creating new business opportunities and more local jobs,” said Western Sydney Director of the Sydney Business Chamber David Borger in a statement.
Because development of a new airport traditionally takes upwards of 6 – 12 years just to plan and organise, Mr Borger says that the Badgerys Creek site needs to be decided on as soon as possible.
NSW Business Chamber chief executive officer Stephen Cartwright has explained that building a second Sydney airport should be made a priority by the next Federal Government, in order to boost employment in the state.
“Sydney Airport’s capacity needs to be fully exploited and it will remain Australia’s primary airport, but action is needed now to plan for supplementary capacity to meet Western Sydney’s needs,” said Mr Cartwright.
With the second airport boosting employment and economic activity in Sydney, there is a chance that demand for property will also grow, should the airport be given the go ahead. That’s good news for anyone who owns or is considering Sydney property investment.