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Article: Light rail property values rebounding

Started by colinw, May 23, 2011, 09:29:27 AM

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colinw

The Gold Coast Bulletin -> click here

QuoteTHE price of property on the light rail route from Southport to Broadbeach has started to rebound despite the fact the transport project's completion is not expected until 2014.

In new price figures released by the Real Estate Institute of Queensland, Gold Coast chairman John Newlands said the city had fared better in the March quarter than in any other quarter in more than 12 months.

He said Gold Coast property prices had "held their own", unlike other capital cities such as Brisbane and Perth, which had recorded decreases in property values.

Infrastructure such as the $1 billion Rapid Transit project and the possibility of the 2018 Commonwealth Games coming to the Coast had boosted confidence, Mr Newlands said.

"The Gold Coast in the last quarter has maintained its median price ... it is certainly showing signs of stabilising and it is giving people confidence again," he said.

"For the last two years we have seen prices peeling back ... (but) prices are now holding their own.

"Properties along the light rail, in particular, have really firmed up and if we were to get the 2018 Commonwealth Games that would be the jewel in the crown.

"We would see the benefits immediately. There are green pastures ahead."

For more on this story, see Page 8 of today's Gold Coast Bulletin.

Zoiks

Time for developer contributions along that corridor

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