Article: Home buyers on the right track

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Home buyers on the right track

Home buyers on the right track
Ellen Lutton | August 10, 2008 - 6:55AM

Brisbane's housing market may have stalled, but experts tip properties near train stations as the scoop buys of 2009, according to experts.

Rising fuel costs and traffic congestion meant many buyers would spur demand for properties within walking distance of trains, RP Data senior analyst Cameron Kusher said.

''It's definitely not going to get any cheaper to run a car,'' he said.

''There are areas which are undervalued considering their locations and access to trains.

''Considering trains are unaffected by rising fuel costs and Brisbane's now very heavy roads, their appeal will certainly increase with buyers and prices are likely to be affected.''

Mr Kusher said suburbs such as Wooloowin and Albion on Brisbane's northside, and Salisbury on the southside were still ``incredibly good value'' and prices were likely to rise.

''If I was buying right now I would be looking around Wooloowin and Albion,'' Mr Kusher said.

''These areas border exclusive suburbs like Ascot, yet are a fraction of the price and better serviced with trains that can take you into the city within minutes.''

In Salisbury, only nine kilometres from the CBD, three-bedroom houses can still be bought for less than  $400,000.

Mr Kusher said attitudes towards trains and properties near trains needed to change.

''There's definitely a stigma attached to areas with trains close by, which is a shame,'' he said.

''But there is only so long people will keep putting up with the rising cost of fuel.

''Soon they will be looking for properties that are close to train services.''

Award-winning Brisbane agent Judy Goodger said proximity to rail was one of the ``key features'' of any advertising campaign.

Ms Goodger, who runs Paddington agency Judy Goodger Prestige, said she ensured properties within walking distance or with easy access to rail were advertised as such because of the demand  from buyers.

''We're finding that trains are an increasingly important factor for our buyers, many of whom are from interstate and overseas,'' she said.

Ms Goodger said home buyers did not yet pay a premium for property near a train station in Brisbane, as they did in cities such as Sydney and London, but she had no doubt they would do so ''very soon''.

Ray White Bulimba sales consultant Dorothy Acworth said obvious demand for properties near trains would increase greatly.

''Trains are consistent, reliable and unaffected by traffic woes,'' she said.

''They're also extremely quiet so people shouldn't be put off by living close to them.

''People in Brisbane need to wake up and realise the benefits of living close to a train.''

Most buyers seeking to be within walking distance of a train station were from interstate, Ms Acworth said.

''As soon as someone rings up and says they want to buy somewhere close to a train I know straight away they aren't from Brisbane,'' she said.

''People from Sydney and Melbourne, who are used to having to catch public transport, know the value of living close to trains.

''They always feel they are getting a bargain [in Brisbane]."
Source: The Sun-Herald