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All Aboard the Capital Growth Express

Being within short walking distance to a tram stop or railway station in Australia equates to substantial extra capital growth in the medium to long term. As our roads become more congested this is a feature that rates at the top of the wish list of both buyers and renters.

A study was completed in London which found similar conclusions to what I believe is a growing trend in Australia. A major British lender found that Londoners pay an average premium of 20,300 pounds for a home within easy reach of a subway or railway station. Properties within 500 metres of a stop will cost on average 7.2 per cent more than an identical home 1500 metres away. The report went on to say that although home buyers would prefer to live close to a station, it becomes less important once outside easy walking distance. The premium falls the further away a property is. Those located 750 metres from a Tube station commanded a 5.2 per cent premium and those 1000 metres away a 3.4 per cent premium.

As the population of Australia’s major cities increases this scarce and unique feature of being located within easy walking distance to a railway station or tram stop will only increase in demand from buyers and renters.

 

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