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Ask RiotACT: How will light rail affect nearby properties?

spades 8 February 2018 10

Ask RiotACT

Hi Rioters,

Does anyone have any insight on how the light rail might affect property prices around stations?

We own a property within a two-minute walk from one of the planned stations. We are not confident that Canberra is a good place to invest and hence would like to sell in the near future. We’re not in any financial difficulty and realistically can wait several years, but at the same time see no reason to keep it. Just looking for the best time to sell within maybe the next two years.

In the four years we’ve owned it, we have asked the opinion of several agents and (unsurprisingly) 100% of them say “now” is the best time to sell. Why not? They obviously want to make a sale. So, we’ve come to realise that we will never get an objective and independent outlook on the property market by talking to a real estate agent. Hence why I’m here.

What do you think, Rioters?

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10 Responses to Ask RiotACT: How will light rail affect nearby properties?
Lin Van Oevelen Lin Van Oevelen 7:57 am 11 Feb 18

I have a friend looking to buy a house near the light rail corridor and it looks to me like there are fewer houses on the market there than usual. I think lots of people are putting off selling until closer to the light rail opening. Which may mean that the advice you got is actually sound.

Prices will probably keep going up though I doubt that the effect of light rail proximity will be much different in a year. But more people may sell there once it's running?

Michael Whitehead Michael Whitehead 12:22 am 10 Feb 18

The Gold Coast experience: ‘Overall, the average value increases for real estate within 400m of a light rail station was determined to be 7.1 per cent’

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