Towns that have bypass planned effect on prices

Discussion in 'Property Market Economics' started by Property person, 9th Dec, 2019.

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  1. Property person

    Property person Well-Known Member

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    Hi

    I'm interested in getting people's thoughts of the effect on house prices in towns that have bypasses planned. I'm not talking those little towns that are popular for a coffee between places - but more tourist towns that are popular on their own accord.

    I'm talking places, like what would happen to Coffs Harbour if it was bypassed, or the one coming down the Princes Hwy - Ulladulla, Milton etc.

    I'm sure it would have some impact on the local economy, but surely locals would love having their towns bypassed?

    Appreciate any thoughts on this matter.
     
  2. TAJ

    TAJ Well-Known Member

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    The upgrade to the Freeway (North) is being done in stages. The lower stretch has pretty much been completed allowing quicker travel times for Sydneysiders to get to Coffs. Then you hit 13 sets of traffic lights:eek:.

    The section from Grafton to Ballina is now in full swing and due to be completed at the end of 2020. To bypass Coffs is going to take a lot of time as tunneling is necessary through many mountains to the west of the city. Coffs has a population over 76,000.

    Prices have been steadily rising since the upgrades commenced as people realise that they can get to these areas in less time, hence becoming more desirable.
    Also, people like to reside in these places which are off the freeway due to their laid back nature.
    As more people retire and leave the bigger cities, prices can only go one way I believe.;)
    Two towns that have thrived since the bypass began in the southern region are Taree and Kempsey and the smaller outlying towns from them.

    Can't wait for the Grafton to Ballina section to be completed. Should of been done 50 years ago!
     
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  3. Simon Hampel

    Simon Hampel Founder Staff Member

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    I think it would very much depend on the specifics about each individual town.

    Towns like Berry on the south coast I feel are actually stronger now for the bypass - the main street is now a really pleasant place to be and stop for a coffee or bite to eat, whereas before it was just dangerous with the volume of heavy traffic passing through. It's also an ideal stopping place when travelling out of Sydney time/distance wise, which is another thing that makes it attractive.

    We actually stop in Berry more frequently now than we did before the bypass!

    I'd be interested to see if anyone had been watching the property market in Berry before/after the bypass to see if there has been an impact.

    Milton has a very strong holiday population all year round - plus a booming retirement housing market - I don't think they will suffer from a bypass - again, if anything I think it will actually help the atmosphere to have less heavy traffic.

    That being said - if you already owned land or housing which was about to have a new motorway built close to it, I think it would have a negative impact on values - nobody likes traffic noise in the countryside!

    Nowra is a large business centre - it will survive in any case. I would imagine the same for Coffs Harbour - they are large enough to be largely unaffected by a bypass (although some small services business which rely on passing traffic might suffer).

    I think it would also depend on how easy it is to get in/out of the town - I think people are far less likely to drive 5km+ out of their way to stop at a town and would probably preference services closer to the highway.

    If you look at towns like Goulburn - the services which are closest to the motorway are really thriving - for example Trappers Bakery / Olivers etc and all of the other new facilities recently built near that exit.

    I think Holbrook on the Hume Highway is probably one example of a town that has suffered from a bypass - it used to be a bustling place, but last time we stopped there was very quiet and I got the impression that a few services had shut down.

    It will be interesting to see what happens around Albion Park when the new bypass goes in - currently that would be a rather unpleasant place to live with all the traffic - it is certainly annoying for travellers to navigate the heavy traffic there.
     
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  4. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    Good points @Simon Hampel

    I concur re Berry and Nowra. I believe Albion Park will benefit more from bypass than suffer as the only business that does well out of the traffic at present is Maccas. Everyone else (locals, commuting workers etc) suffers at peak times on a very slow highway.
     
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