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Melrose Park set to reap substantial benefit from Parramatta Light Rail
This week we analysis of the Melrose Park (Sydney) market, running through an extensive infrastructure project (PLR) that is currently underway, set to benefit the immediate area, as well as providing an analysis of the population growth projected and rental vacancy rates.
Melrose Park ticks a lot of boxes when it comes to picking an investment opportunity, the projected population statistics are pointing in the right direction, with the population set to increase from 15,041 people in 2021 to over 31,000 people by 2031.
Furthermore, the NSW Government has committed $50 million to continue planning and development work for Parramatta Light Rail (PLR) Stage 2, which is proposed to connect PLR Stage 1 and Parramatta’s Central Business District (CBD) to Ermington, Melrose Park, Wentworth Point and Sydney Olympic Park, PLR Stage 2 is planned to have 10 to 12 stops over a 10-kilometre two-way track.
If you would like to discuss the Melrose Park market in more detail, please reach out to the team to organise a time to have a conversation about how Wealthi can help you build a successful property portfolio.
Chris Hynes is Wealthi’s Global Research Analyst, Based in London