Rail lines lift home prices by almost $50,000 in Melbourne

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The figure tracks as high as an average $105,000 more for a house in Melbourne's east that has a train line in the same suburb compared with those without a station, $59,500 in the northern suburbs and $40,000 for median prices in western suburbs with train access.


Generation Y typically value:
- easy access to the city lifestyle via public transport over homes with large backyards or the facilities to raise a family
- no-fuss, low-maintenance properties that were affordable (though no same effect for units)

 

This could be due to the fact ready access to public transport became more important to people in Melbourne's outer suburbs, which typically had more houses available than units. He expected all modes of public transport to become more important.

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