I am a public transport nut. Train, tram, bus, ferry – I will take them if it’s easier than driving.
But public transport is also an important consideration for property investors.
This week, the CEO of the Urban Task-force wrote an opinion piece in the Sydney Morning Herald advocating a new underground metro line running across the city and with redevelopment of sites above ground with the capacity to accommodate 20,000 people as the city grows.
There are similar thoughts for Melbourne and Perth.
Increasingly such investment is impacting on our cities and will influence property value – both residential and commercial.
The most obvious areas will be our largest cities, which have the populations to make major infrastructure investment economically viable. And while no-one is arguing that Gladstone, Geraldton or Wagga will have metro lines running through them, even some of our smaller cities are changing; the Gold Coast has light rail, Canberra and Newcastle are implementing light rail schemes. Even Hobart has aspirations.
Gen Y prefers to drive less than we do. And as some form of carbon pricing comes into effect, whether we like it or not, gradually other schemes will come into being. As a result, investment sites near public transport routes will come at a premium.
When searching for your next investment property, do your research. Information on an area’s infrastructure proposals can be found quickly from a visit to the local town hall. Similarly, any property buyer who knows a location will use such information as part of their analysis of an area’s potential.
Note: Before specialising in finance, Graeme left university as a qualified town planner. Although he no longer practices it, he has retained more than a passing interest in his former profession. He has always liked trains.
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