Join Australia's most dynamic and respected property investment community

VIC Melbourne Rail Project

Discussion in 'Where to Buy' started by the_truth, 27th Apr, 2016.

  1. the_truth

    the_truth Member

    Joined:
    27th Apr, 2016
    Posts:
    5
    Location:
    Sydney
    Hi guys,

    Just noticed this state government announcement today:

    $10.9bn plan to ‘transform’ city

    I have an investment property in Frankston, so hoping this will have a positive impact on capital gain (especially with more services on the line and $50 million station upgrade)? With current house values still so low I can only assume there is more room for growth =). Values are already up 13% compared to last year..

    Can you see any other areas that will rise in value as a result of the project for my 2nd IP? I think Melbourne overall has some serious potential to catchup to Sydney values in coming years, especially with population growth set to overtake Sydney.

    Would love to hear your thoughts!

    Mark
     
    larrylarry likes this.
  2. MTR

    MTR Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    7,433
    Location:
    Perth, Melbourne, USA
    some winners here

    I was in Melb over w/end saw a map with areas that would most benefit from this, I think The Age....... Google and then research each individually, including schools etc
     
  3. melbournian

    melbournian Well-Known Member

    Joined:
    2nd Sep, 2015
    Posts:
    1,325
    Location:
    melbourne
  4. househuntn

    househuntn Well-Known Member

    Joined:
    26th Apr, 2016
    Posts:
    94
    Location:
    Melbourne
    The CBD station project will improve travel times and transport options for the work/uni commute as currently most/all PT traffic is via trams which get horrendously crowded with workers in the peaks and melbourne uni students all day. And should have positive flow on effect to nearby areas

    There's also a couple of crossing removals and elevated train lines being built in the south east which will improve travel times not only for train commuters, but also car travel at the infamous Ormond rail crossing which can be down for over 50% of the time in peak hour
     
  5. albanga

    albanga Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,114
    Location:
    Melbourne
    This is a great plan that all of Melbourne will benefit from. I am however very dissapointed the airport rail link was again overlooked.

    The most liveable city And sporting capital of the world yet we expect tourists to wait hours and spend $100 for taxis?
     
    Scott No Mates likes this.
  6. norwoodman

    norwoodman Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    262
    Location:
    Brisbane, QLD
    Realistically until the capacity bottlenecks in the central part of Melbourne's rail network are addressed, the ability to add new services and new lines is very limited. Trains don't magically find new space where all the existing tracks through the middle are already near capacity, especially when there's multiple lines sharing the same tracks.
     
  7. Traveller99

    Traveller99 Active Member

    Joined:
    22nd Jun, 2015
    Posts:
    26
    Location:
    On the road!
    The E-Gate area is ripe for development. The flow on effect to surrounding areas such as Kensington will also benefit them. North Melbourne is full of warehouses crying out for redevelopment. Will be interesting to watch over the coming years.
     
  8. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,507
    Location:
    Sydney
    more conversion to apartments?

    I think it's good news overall. My experience with Glen Waverley is good but I haven't tried other lines. I'm still amazed by the amount of toll charges I paid when driving into Melbourne and to Glen Waverley.
     
  9. albanga

    albanga Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,114
    Location:
    Melbourne
    @larrylarry the toll chargers are a joke.
    From my house to work is 20 minutes on the tulla. Each day costs me around $13 in tolls.

    Throw in parking, fuel and car wear and tear and your around $150 a week.

    Luckily my wife and I commute together so the alternative of public transport is still around $90 meaning we only pay $60 not to deal with PT. that said at times I would much rather be sitting on a train reading PC than stuck in traffic.
     
  10. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,507
    Location:
    Sydney
    That's why I stopped driving into the city in Sydney 5 years ago and took PT to work despite the smell, temperature, noise and breakdowns.
    I can still hear the "beep" in my head right now!

    Will be in Melbourne in 3 weeks time but thankfully, wont be going into the city...i hope.
     
  11. laam

    laam Member

    Joined:
    21st Jun, 2015
    Posts:
    12
    Location:
    Melbourne
    Good projects list. I'll be working on a few of them as an engineer. Ive found a lot of people don't understand how it all fits together and just see it as adding more station for the inner city types.
    Currently the city loops is at capacity and no additional trains can be run through the city. The metro tunnel will relieve this. However there are many restrictions at level crossings where you can only have the boom gates closed for so often in peak hour. This also prevents the running of extra trains.This is where the grade separations come in. Doing either the metro or the grade seps on their own is useless for public transport. But together they should allow more trains to run on all lines. With the Dandenong line grade seps they are also upgrading the signalling for the whole line which will allow trains to run closer together.

    The only area that will benefit largely is the Arden St area which will be redeveloped. Otherwise the advantages are spread over the whole network and locally near each grade separation site.
     
  12. melbournian

    melbournian Well-Known Member

    Joined:
    2nd Sep, 2015
    Posts:
    1,325
    Location:
    melbourne
    cut out of toorak road and you pay no tolls. i walk to CBD daily hence can't really say but i did live in the glen waverley are before so taking the same highway though tolls were paid by work :)
     
  13. househuntn

    househuntn Well-Known Member

    Joined:
    26th Apr, 2016
    Posts:
    94
    Location:
    Melbourne
    Toorak Rd is shocking though, single lane shared with tram
     
  14. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    912
    Location:
    Sydney / Canberra
    would take PT any day despite all the fuss around it unless I am the only one driving into the city

    a driver wife ... may be would solve that problem?
     
  15. bumskins

    bumskins Well-Known Member

    Joined:
    16th Aug, 2015
    Posts:
    80
    Location:
    Sydney
    Maybe reduce the gap, but I don't know about catching Sydney's prices.
    Sydney still has a decent lead on jobs & wages.
    You also have to consider supply and not just demand, so even if Melbourne is growing faster than Sydney and does overtake it, who is adding more supply? also is Melbourne creating enough extra jobs to go with the rise in population? or will there be rising unemployment?
     
    Last edited: 29th Apr, 2016
  16. Jjjjj

    Jjjjj Member

    Joined:
    19th Aug, 2015
    Posts:
    8
    Location:
    Melbourne
    What's the general consensus regarding the extension of the train line of the south morang line to mernda? Too much land for price increase in mernda and Doreen? Or is there a chance of increase interest with the rail extension?