There has been much conjecture about Perth’s transport system and hot debate about the importance of TOD’s and even light rail.
But a recent study we just completed in fact spells out quite clearly that TOD’s do provide a capital advantage to neighbouring suburbs and their properties.
Our study analysed 20 years of sales for Success/Atwell and Cockburn Central in comparison to Ellenbrook in the north (totalling 24,386 sales from 1994-2014).
Both these locales were prospering areas and also offered extensive retail space.
As can be seen by graph 1, house prices were on par for all suburbs and demonstrated steady growth until 2007, when the TOD at Cockburn Central was introduced – and this is when we saw prices begin to diverge.
The same can also be said for land sales as well (graph 2).
In conjunction from 2001 – 2011 we saw an increase in professionals and managers in Atwell and Success, unlike their counterpart suburb Ellenbrook.
This is a trend that we have seen with other TOD based suburbs including East Perth.
When you see the economic gains that are clearly linked to a TOD it demonstrates why developers and Local Governments should be lobbying State and Federal Governments for more transport networks.
I believe that TOD’s and transport linkages are vital to Perth’s ongoing success and while there may be arguments back and forth about who will fund these, it is quite clear that there are real gains to be made from all parties, if you actually commit to this investment.
PropertyESP is presenting the full research findings at the National Housing Conference in October – but if you can’t wait that long, then call us today for a private briefing – I can assure you – the numbers will amaze you!
PropertyESP can be contacted on 0452 067 117 or firstname.lastname@example.org.