Theo’s property was valued at $1 a few years after he tried to sell it for $12m

The new airport could spark an economic revival and we think it’s going to be a blessing for Western Sydney and (some) of the people of Western Sydney. Sadly, while it’s good for some, it seems that the new airport means financial ruin for others. This is gut-wrenching. We’re sure this isn’t going to be the end of it and we’ll be watching this space closely over the following weeks and months to come.

#westernsydney #airport #nswplanning #rezoning

https://ift.tt/3taWBR7
Theo Koutsomihalis says his 4-hectare property has been “rendered worthless” after rezoning around the new Western Sydney airport. He’s among hundreds of angry residents who have seen the value of their homes plummet.