Ruined : Hundreds of homeowners devastated by re-zoning in new Western Sydney airport plans dailymail.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymail.co.uk Daily Mail and Mail on Sunday newspapers.
A property which was listed for $12million had its value drop to just one dollar due to proposed land zonings.
Theo Koutsomihalis home s value plummeted after the NSW Government rezoned land surrounding the airport at Badgerys Creek - which is due to open in 2026.
Mr Koutsomihalis four hectare Bringelly property went from rural land to 100 per cent environmental land designated as a green space. This 100 per cent green space has rendered my property worthless, he told the ABC. I ve had my property officially valued and with nobody acquiring my land, it has been valued at $1 and unsaleable. This loss of value is theft. I ve lost all my equity in my home.
Western Sydney Airport forces rezoning of properties, residents demand inquiry
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Theo Koutsomihalis has seen his property rendered worthless .
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Theo Koutsomihalis s property was listed for sale for $12 million in 2018, now it s been valued at $1 because of rezoning around the new Western Sydney airport.
Key points:
Theo Koutsomihalis says his property is now worthless
Residents in Luddenham say their land value has fallen after the land revaluation
In October last year, the NSW government rezoned all land around the Aerotropolis the area surrounding the airport at Badgerys Creek.
Mr Koutsomihalis saw his 4-hectare Bringelly property transform from rural land to 100 per cent environmental land under the new zoning.
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How to Live in this way. We have been living through a period of time in which all our strength, resources and innovation continue to be tested and these Hertfordshire heroines are an inspiration. It has been a joy to work with such a great team throughout the process of creating the full
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The five original
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