How does Public and Active transport investment affect property prices. How/where do homes increase in value and how or where do they become more affordable at the same time.
I did a little bit on this at uni and it ended up being very complicated to actually attribute price growth on pt infrastructure versus other amenity values in this city.
This was a decade ago though I’m sure it’s only more complex now given the heightened demand for housing.
I know from historic light rail projects that property prices in the vicinity of a line increase from around 10 to 20 percent. That also included business too.
Otherwise it is a paradox depending on the dwelling; Its good for homes, it doesn’t apply to social housing, and its bad for renters of both apartment and student accommodation types, because owners will obviously intentionally inflate rent prices near a line, and these owners are usually large companies that are only there to make them dollarydoo’s.
Any type of residential dwelling cannot be defined as ‘affordable’ if its land value is artificially increased, or owned by those only to seek profit.
Stumbled on this paper, although dated 2016.
RESIDENTIAL PROPERTY VALUE IMPACTS OF PROXIMITY TO
TRANSPORT INFRASTRUCTURE: AN INVESTIGATION OF BUS RAPID
TRANSIT AND HEAVY RAIL NETWORKS IN BRISBANE
https://research-repository.griffith.edu.au/bitstreams/f4b347ba-2dba-4d20-adaf-681838f9d35f/download
Able to show that being close to BRT adds a premium to the housing price.
Depends on the zoning - not much in Brisbane given that most land around train stations is underdeveloped or zoned industrial.