The opening day for Moreton Bay Rail Link was announced today, to the joy of many in Brisbanes northern suburbs. The line will extend from Petrie to Kippa-Ring, passing through Kallangur, Murrumba Downs, Mango Hill, Mango Hill East, and Rothwell.
The line opens on the 3rd of October. On the day trains will be running for free, before assuming regular fees and timetables on the 4th. This extension will give the whole peninsula, along with the North Lakes region, access to the city via services leaving every half hour.
The rail link will no doubt boost the value and economy of the Moreton Bay suburbs, by connecting them to not only the city, but other suburbs across Brisbane. The train line would cut the commute time by 15 minutes, even more when considering the congestion that is avoided during peak periods, as well as attracting business and consumers to the region.
According to research carried out in the USA, property values have historically increased by up to 40% and are more likely to be further developed when near train stations, especially if steps are taken to minimise noise (sound barriers, double glazed windows etc)
Currently, North Lakes, Mango Hills and surrounding suburbs are already experiencing rapid expansion, and the train line should drive increased demand for medium-density housing such as townhouses within close vicinity to the new stations. Redcliffe and Shorncliffe may also see increased demand for waterfront apartments as the commute to the City becomes easier and buyers are able to focus on lifestyle choices rather be than purely distance to the CBD.
SOURCES:
Roderick Diaz – Impact of Rail Transit on Property Values (PDF)
We would love to hear your thoughts on this project.
Have you visited this project recently, or perhaps you live nearby or bought in a neighbouring building? Tell us what you love about this project, or perhaps what you don't.