Property Valuation Foundation Concepts

Executive Summary

The learning of the Impact of Rail Investment on Housing Prices in North-West Sydney has stated on the “frequency, coverage and reliability” of transit in compare to the concentration of the traffic congestion which has resulted from the access available in the different locations. In areas where the transit system provides the most amount of employment “and predictable alternatives in compared to the “time spent in private vehicle travel (and the unpredictability of traffic jams), transit accessibility is more likely to be valued”. The study has been able to depict that the smaller house with simple travel prerequisite like “working couples with no children and two full time jobs” are more likely to be served in a better way than the families with the children whose travel needs whose travel needs are more intricate in nature. “Land value uplift from light rail Gold Coast City Council (GCCC)”amount of the gains has been considered with the relevant literature is related to the connections which “relates to number of connections each node in the network has” and network which relates to the “the number of nodes in a given area”. Impact on property value for “Bay Area Rapid Transit (BART)” literature of the study has been able to incorporate the various ideas which are related to the factors such as “access to employment, developmental impacts, pedestrian accessibility and market penetration”. The extent of the increase in the property value in seen to be considered with the market entry of the transit system in the respective area. The various types of the impact of the light rail transit on the values of the property has been focused on several factors. The property value premiums due has significantly increased from “3% to 40%”. In addition to this, the property value premium in the ability to develop or redevelop the properties are dependent on the use of land and amount of development which can be permitted on the property.

Table of Contents

Introduction

Literature Review

Impact of Rail Investment on Housing Prices in North-West Sydney

Land value uplift from light rail Gold Coast City Council (GCCC)

Impact on property value for “Bay Area Rapid Transit (BART)”

The impact of a new light rail system on single-family property values in Charlotte, North Carolina

Conclusion

References

Introduction

As stated by Ewing et al. (2014), the funding pertaining to the investment in the light rail transit has been recognised with different benefits considered with the factors such as greater accessibility for the population pertaining to “employment, retail, and recreation activities”. The investments are considered with a variety impacts for the regions surrounding the rail alignment. The most evident impact of the light rail transit is taken into account with transit projects which allows the users to access retail stores with more ease. In addition to this, the space assigned to the residential property is in general higher that the space which is allocated to the other users. The main considerations of the study have been discussed on the impact of the light rail on the property values in Australia and U.S.

The learnings of the study have further recognised the land value gains which are seen to be attributable to the “light rail system on the Gold Coast, Australia”. The different types of the other sources for the empirical evidences which are included with the properties values throughout North America. The literature review of the study has included the study on the demographic and socioeconomic profile. It has also highlighted on the “accessibility provided by the new transit investment, sales price of single-family homes, apartment rents and median home value”. The main learnings of the study have been seen with the increase in the property values due to the proximity of the light rail with the highway facilities and other industrial users.

The accessibility and “amenity of residential properties along with overall affordability” has been also studied as an impact of the light rail. The important assessment of the study has been able to include the comparison of the price trends before and after rail line construction project in early 2009. The different types of the evidences from the studies from the “light rail system on the Gold Coast, Australia” is evaluated as per the net automatic property tax increase and value gains in the land. The main findings of this paper seek to understand the economic benefits as per Stage One GCLR investment. This has been considered with the degree of the reduction of the travel time and improved accessibility to the nearby property encompassing the light-rail corridor. Additionally, the studies have shown that the “North America” discerned to contending the property values such as “sales prices of single-family homes, apartment rents, and median home value” (Mulley et al. 2016).

Literature Review

Impact of Rail Investment on Housing Prices in North-West Sydney

The discourse of the study is c