Business · Economy · 2 hrs ago

Marrickville’s metro boom offers a glimpse of what may come to Bankstown and Lakemba

Marrickville’s metro boom offers a glimpse of what may come to Bankstown and Lakemba

The metro has helped draw more visitors to Marrickville, an inner-west Sydney suburb once known for its industrial streets.

Spending in its food and arts businesses has risen to more than three times the state average.

The surge has brought crowds to local breweries and inspired a new coffee trail.

Bankstown and Lakemba may see similar changes when Sydney’s metro extension opens on Friday.

The line is expected to improve links to jobs and other parts of the city.

But rising rents and property prices worry local businesses, which fear creatives and manufacturers could be pushed out.

Marrickville’s unit rents have climbed 57.8 per cent and house rents 40 per cent over five years.

The extension’s impact on those suburbs is still to come, while Marrickville shows both the commercial benefits and the risks.

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What people are saying

Mark McCrindleDemographer with McCrindle Research
It’ll link people [and] open up more employment opportunities across Sydney.
via SMH
FrankiOwner of Mothership art warehouse and residency
has been priced out
via SMH
Marrickville now becoming on the map, in a big way because of the metro, means that this is the most expensive commercial land in the country
via SMH