Light Rail impact on Property Values

Do property values close to light rail stations increase in value once light rail is completed?

Parramatta light rail is due to be completed in 2023..

I live in North Parramatta (strata unit), walking distance (200m) from one of the stops on the future Parra Light rail..

Even though property prices are falling, will infrastructure such as Light Rail stabilise falling property prices, or even cause prices to boom once light rail is almost completed?

Any thoughts?

 

It's anyone's guess but based on the inner-west light rail, metro, Newcastle light rail and probably every other transport infrastructure project it would be better to have access to the service than to be located nowhere near it.

 

I used to live right near Telopea Station in Adderton Road (18 years ago). I think the Light Rail will be a big improvement. Better connectivity and more frequent services. There is apparently an investigation underway looking at extending the Light Rail from Carlingford to Epping ... @Scott No Mates ... have you heard anything on this? Or is this a dead duck.

Parramatta Light Rail part 3: Stage 1 extension and Stage 2 options

Property prices have already stabilised in Sydney ...

This Housing Downturn is Over

This Housing Downturn is Over

This Housing Downturn is Over

Auction data is now pointing to increasing strength ...

This Housing Downturn is Over

 

I keep my eyes on this with interest - there are a few minor technical issues to overcome:

• Western side of Epping Station (Beecroft/Carlingford Road side has the recently built northern freight line making integration into the station more difficult
• Epping would become a bigger interchange - light rail isn't compatible with Metro or heavy rail
• It would've been better (easier) to integrate nearer Beecroft/Cheltenham had they kept to the original heavy rail concept but the use of the line has changed over the recent past

I'd love to see this happen as Chatswood-Parramatta would be a breeze (it takes around 40 minutes by car on Saturday evening - no peak hour traffic). Parramatta absolutes buzzes on a Saturday night and on weekdays so a link between Parra/Macquarie Park/Chatswood should be built (the demand surveys that the govt used 20 years ago were so far from the mark but were used to shore up the business cases for the alternatives).

 

Carlingford Road option has just been leaked:

 

Not good in this weather though but everyone gets a seat.

 

I’m guessing the Windsor Rd Baulkham Hills to parramatta light rail is off the table now. Pity because Winston hills, Northmead and much of Baulkham Hills has limited public transport

 

I am in the light rail industry and often attend seminars and industry sessions on light rail. A good example is Gold Coast light rail stage 2 expansions all property on either side of the proposed corridor are getting snapped up like hot cakes currently with developers paying above market values. The same was seen in Victoria when the last big expansion of light rail was done down Burwood road till Vermont there was a significant growth in the corridor. and if the proposed Caufield to Rowville light rail gets off the ground the same will happens to property along the route, Same with Newcastle there was a massive revival of property next to the light rail. Modern LRV are much silent and have a higher exterior noise requirements to meet which makes them perfect and residents next to LRV lines do not even have to worry about the noise.(Same can't be said of the Victorian high floor tram fleet)

I don't have any personal experience on the Sydney light rail but same learning and growth can be expected as the other places.