Improved transport raises house prices
17th November 1984, Page 26
17th November 1984
Page 26
Page 26, 17th November 1984
— Improved transport raises house prices
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ONE of the fears of opponents of road schemes may be that property values will be reduced. The reverse has happened as a result of the opening of the Metro in Tyne and Wear, with which big changes in bus services have been associated.
A survey by the Transport and Road Research Laboratory found that from 1979-83 the prices of residential property within 200 metres of Metro station, of which there are 41, rose by about £360 more than those of similar houses between 1.5km and 3km away. This average increase occurred in the period of two months before and two months after the station was opened and was maintained for over a year.
Do motorway junctions have a similar effect on house prices?