QLD Buying on rail line

Not to mention the traffic going to and from said station

 

Thanks for the advice everyone think I might keep looking!

 

It would depend on why you want to buy in that location in the first place. I bought a house in exactly the position to a train line, you can barely hear the train when inside and don't even notice a train after 2 days. What no-one realized was the other side of the train line was the back of the hospital, very convient for shift workers and those who work double shifts. ( don't need a car, or have to use non existent or poorly scheduled public transport) The tenants just walk across the railway line to go home for their lunch hour and don't spend 2 hours of their 8 spare hours a day in transit when working a double shift. I paid $215k and rent it for $630 a week.

 

I purchased with rail practically in the backyard, but then purchased cheap, development site and on sold with plans and permits for 8 apartments to a builder. The builder thought it was very attractive low end product to sell OTP to investors.

So there is an exception, but with this comes more risk.

Would I do it again, probably not, as I did this in a rising market, but if the market were to turn it would be difficult to sell this product.

MTR

 

They say to buy close to the the train, but closer to the station than the track is probably better.

 

I live 130m from a Brisbane train line, 500m from the station and find the noise a complete non issue. It's barely audible at night and don't notice it at all during the day. Brisbane electric trains arn't exactly that noisy. Compared to living on even a moderately used road I would choose near a train line any day. The value of being within walking distance to a train station also adds tremendous value.

 

Which station do you live near Paul?
Are you up on a hill or in a valley?
The sound seems to carry down or flat a fair way.

 

Agree with Azazel, it maybe geographical. My new IP is 750m from the station/500 metres from the train track but I can still clearly hear the trains. Both the train line and my IP are elevated is the reason for this perhaps?

Anyway, it's a quiet area except for the bird life and the train sound is unobtrusive, nice to have audible confirmation that they are running. In Sydney weekend trackwork is so common.

 

The land is flat where I am. Like you the train line was a concern for me when we first bought the house but seriously after a month we don't even hear it anymore, except for the steam train that comes through once a month, but that is a nice sound

I also used the live near Ferny Grove (next station from Keperra) and the train didn't bother me then either. Note the line from Ferny Grove to Keperra is fairly long distance so the trains get up to a higher speed and therefore more noise depending where you are. My current house the stations are quite close so the trains never get up to speed which probably helps.

 

Ugh, track work on the weekend seems to be constant. Poor people who have to work on weekends.

 

Few years ago We used to rent an apartment overlooking the train line...even though you get used to it, the noise gets quiet annoying and you have to pause the conversation every time the train passes by .. It's great to break the argument with the Mrs ... The balcony was unusable as well.

 

Hehe, yeah, we get that when they change the flight path.
Usually happens when we have friends/relos visiting overnight : /

 

Somehow the apartment building in Sydney St. Leonards still in demand with low vacancy ?
it is right above the train station.

 

Yeah, I can't imagine they have better technology than the smart state
They built an apartment building over the track Burwoo too, I'm sure it's all full.

 

@dan2101 & @Azazel
yes, I agree, looking at the new white / grey-ish apartment building everytime I go past Burwood station, I wonder how and why those apartment still comamnding high price $1m + for 3 bedders and $900k+ for 2 bedders, it is right at the train tracks so only few meters away.

Mate, soon in the next few years, Central station in Sydney will be covered by residential apartment project

http://www.urbangrowthnsw.com.au/wo...h-urban-transformation-transport-program.aspx

http://urbangrowth.nsw.gov.au/downl...toEveleighUrbanRenewalandTransportProgram.pdf​

So yes, it should not be a problem living near or above the station.

 

Crikey.
I guess if they have the technology to ensure it doesn't vibrate through the whole building it would be Ok.

 

Even this one here looks like a good buy:

http://www.realestate.com.au/property-unit-vic-reservoir-119492879

 

So how much would people de-value a property that is virtually on a train line?



This place has been on the market for 75+ days at mid 500s in a suburb where equivalents away from the line would be 700s. Currently tenanted long term at $495/week. Does a rail line really command a 25-30% reduction or is there something else I'm not seeing here?

 

Well it's really not a very good outlook having that right out your front door. It's not going to get much louder than right there.