NSW Sydney: 4.5% premium on land within 400m of train station.

Not like this is a revelation, but interesting nonetheless.

http://www.luticonsulting.com.au/wp...t-and-Urban-Renewal-Value-Creation-Report.pdf

On average:

• Heavy Rail 0–400m +4.5%
• Heavy Rail 400–800m +1.3%
  
• Heavy Rail 800–1600m +0.3%
  
• Main Road 0–100m -7.6%
  
• Main road 100–200m -0.6%

Also of note, some areas attracted premiums far above average.

The report also suggests that assessed land values lagged behind actual sale prices by about 12 months in two areas following new transport: Epping to Chatswood (new rail) and the Dulwich Hill new light rail).

From the report:

 

Interesting data.
Would have expected the premium for living close to the station to be higher.

Also the penalty for living close to a main road is difficult to interpret. The biggest penalty would be a house directly ON a main road as opposed to a house one street over.

 

I've been reading studies on effects of train stations and it seems to correlate. The effect isn't so high if there are other modalities of transport e.g. light rail, but is there nonetheless

 

I wonder if it's doubled in places where there are both like Lewisham.

 

It would give commercial / retail space a higher value if there were more than one, but not so much residentially from what I've been reading