Light Rail Project Expected To Boost Property Prices
While construction of the Gold Coast’s Rapid Transit project isn’t due to commence until November of this year, and completion remains as far away as 2014, commentators and industry insiders are already discussing the positive impact the project will have on real estate values along the Parkwood to Broadbeach route.
Many agree that prices are unlikely to jump overnight, but a gradual increase of 10% or more is expected, with even greater gains for developers amalgamating sites close to the new transport hubs that the project will create. Already, a developers are sitting on a number of sites near the Gold Coast Convention Centre, and the project’s initial Broadbeach terminus, with hopes of large future capital gains.
Tags: Broadbeach, Broadbeach South Regional Station Village, Future Development, GCCC, gold coast, Main Beach, news, property, Public Works, Rapid Transport, real estate, Southport, Surfers Paradise
November 26th, 2010 at 9:40 am
This is a $1b white elephant that will bleed year in year out because there won’t be enough demand to run te system let alone generate some sort of payback on a BILLION dollars. It will create a traffic nightmare and doesn’t connect to anything that would make sense – NO connection to any train stations to Brisbane. NO connection to Skilled Park. No connection to Coolangatta Airport. Does nothing for anyone who commutes east west or outside of the narrow 15km North-South strip it covers.
This project costs an enormous $60 million dollars per kilometre. $60m per kilometre. Come on. There is obviously so much corruption behind this ‘project’ its a joke. A billion dollars for a tiny 15km strip that is already serviced by buses. Won’t help any real commuters or alleviate any of the traffic woes on the coast. Absolute farce.
January 10th, 2011 at 11:14 am
My understanding is that, once the initial Parkwood < --> Broadbeach stretch is completed, plans are to extend to Helensvale railway station in the north and Coolangatta Airport in the south – but I don’t believe these are more than unfunded plans at this stage.