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New Housing Advantages And Disadvantages

Decent Essays

WHO BENEFITS? New transport infrastructure creates value and there are many stakeholders who benefit from well places and designed transport infrastructure. To seek a portion of this newly created value, you firstly need to identify and beneficiaries. • Existing residents – as many studies have proven, property prices increase once a major new transport infrastructure is announced. Residents do not need to wait for the infrastructure to be built, as prices have been shown to increase as early as the initial announcement. Residents all benefit from reduced congestion, faster and more reliable journey times, improved quality of life. Research showed that Melbourne’s City Link had created increased land value of $30 billion. The Southern Railway in Perth showed that there was an uplift in value over 5 years by 42% above base value uplift for properties in station precincts. For every kilometres a dwelling in Brisbane was located in proximity of a ferry terminal there was an increase of 4% in price. In London research found that property within easy reach of a station was worth on average 20,000 pounds more than other properties. Another benefit • New residents – will benefit in purchasing a home in a newly developed area, without having to pay premium city prices with the ability to commute in a reasonable time to the CBD with the creation of a new railway line. Ongoing benefits will be achieved with new areas providing a much needed economic activity leading to market

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