Property buyers are increasingly targeting areas in close proximity to public transport links due to the rising cost of fuel, increasing cost of long term parking and traffic congestion.
The main key factors to consider when deciding a location for your next or first property purchase are living in close distance to work, amenity, main access roads and /or public transport.
Educated Investors are increasing purchasing properties that incorporate efficient transport infrastructure that is within a short walk as well as lifestyle amenity to best maximise rental returns.
One of the biggest benefits of buying a property close to a train line is the convenience it offers such as a greater link to the metropolitan areas.
For renters this is an attractive feature as it offers better employment opportunities for those who work in, around or commute to the city. People will be less reliant on their cars which may save both time and money.
In many areas there has been a healthy growth in property values along the train lines on the eastern seaboard.
Property buyers are increasingly targeting areas in close proximity to public transport links due to the rising cost of fuel, increasing cost of long term parking and traffic congestion.
The main key factors to consider when deciding a location for your next or first property purchase are living in close distance to work, amenity, main access roads and /or public transport.
Educated Investors are increasing purchasing properties that incorporate efficient transport infrastructure that is within a short walk as well as lifestyle amenity to best maximise rental returns.
One of the biggest benefits of buying a property close to a train line is the convenience it offers such as a greater link to the metropolitan areas.
For renters this is an attractive feature as it offers better employment opportunities for those who work in, around or commute to the city. People will be less reliant on their cars which may save both time and money.
In many areas there has been a healthy growth in property values along the train lines on the eastern seaboard.
During the past five years, the median price for houses in the Sunshine Coast’s railway towns increased by an average 17.3% p.a.
Land prices experiences an even larger growth with the median for vacant land increasing an average 17.4% in the 12 months to Dec 2007.
A growing number of people seeking an escape away from the busy city life have prompted a strong demand for property in areas away from the city yet still close to main transport channels.
There has been a solid growth in property rental rates in areas that are well supported by a rail network. Rents have grown and will continue to grow however there are not enough properties to keep up with the increasing number of people who want to live in those areas.
Sydney is the densest residential region within Australia which requires a massive public transport network to supply its large population.
The median house price for Sydney suburbs in close proximity to the rail network was $540,000 during the six months ending December 2007, some $67,000 more than the median house price for those suburbs not close to a train line.
The median unit price for Sydney suburbs that are within a close distance to the rail network was $385,000 during the six months ending December 2007, $50,000 less than the median unit price for units not close to a train line.
With NSW having the largest residential population in Australia, support for public transport has increased by 19% over 2006. This is mainly due to the rising cost of living in NSW and particular Sydney forcing many residents to consider public transport.
As recent market conditions have deteriorated home affordability has resulted in many people forced to rent. Sydney therefore will rely even more on its public transport system, increasing the demand for properties within a close distance to transport hubs.
Increased residential growth in the Brisbane area has seen traffic issues worsen over the pass 5 to 10 years, escalating support for public transport use.
The median house price for Brisbane suburbs close to the rail network was $550,000 during six months ending December 2007, $65,000 more than the median price for properties which are not close to the rail line.
The median unit price for suburbs that are within a close distance to the rail network was $371,000 during the six months ending December 2007, $16,000 more than the median unit price for units not close to a train line.
Brisbane’s population is predicted to increase by about 8,996 new residents a year until 2026, which will affect traffic congestions and travel times.
To find our more about buying property in Sydney or Brisbane please click here Sydney Property Buyers Agent or Brisbane Property Buyers Agent
