Yahoo Finance The Red Rooster line: Does it actually affect property prices?
There are several indicators of house prices: proximity to the city centre, supply of open spaces and parks, whether the property is beneath a flight path and access to schools and infrastructure.
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But there’s another indicator that exists only in Sydney: the Red Rooster line.
First observed by the University of Sydney’s student newspaper Honi Soit, the line is made by connecting Red Rooster stores, and has long been considered the line dividing Sydney’s more affluent eastern suburbs and Sydney’s western suburbs.
The line is also reinforced by the existence of El Jannah, which only exists in the west.
According to realestate.com’s chief economist Nerida Conisbee, the line also underscores the difference in house prices in the two regions.
“The Red Rooster line holds for median prices above and below $1 million,” Conisbee said.
“Although the line doesn’t really hold for the wealthy parts of the Sutherland Shire (El Jannah doesn’t seem to be here either), in other parts of the west and south west, there are very few areas that have a $1 million plus median.
“Compare that to the inner west, north west, northern beaches, north shore and east where suburbs with medians below $1 million are almost non-existent.”
Western Sydney’s up-and-coming suburbs
However, that could change within years.
According to Domain Group analysis, several suburbs in western Sydney have seen the strongest 10-year growth amongst the entire Sydney region.
Penrith has seen property prices nearly double for units – up 99 per cent – while Canley Vale has seen house prices surge 112 per cent to $805,000.
And real estate agency Upside CEO Adam Rigby has named Badgerys Creek and Auburn as two Sydney suburbs set to explode in value as new infrastructure projects inject millions into the local economies.
“The construction of the airport will bring with it, new job opportunities as well as local dining and entertainment options. Property prices in Badgerys Creek and the surrounding suburbs have seen significant uplift in recent years and will likely continue to grow in line with the area’s expansion,” Rigby said.
Chief executive of fellow real estate agency group Starr Partners Doug Driscoll also picked Oran Park and Busby as suburbs to watch.
"Busby is an excellent long-term investment for young professionals and families looking to get their foot on the property ladder," Driscoll said.
"Close to the M5 motorway and with ample bus services and several schools, Busby has everything first home buyers need to make the area their home. Its proximity to Western Sydney University also makes it very attractive for investors."
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