Melbourne’s rising house prices alter buyers’ views

May 26, 2017 by  

The recent increase in the value of Melbourne’s property market has changed the options for buyers.

Property once perceived as undesirable is now being looked at in a fresh light, with homes adjacent to train lines being snapped up at prices that might once have been seen as excessive. Brochure printers within Box Hill South may receive extra business as the housing market continues to boom.

Jeff Provan, the founder of Neometro, said:

“We’ve got some amazing land around railway lines; it’s open, it’s not going to be built out and it’s close to the public transport.”

Neometro is involved in the construction of homes in the vicinity of the rail network, and has been collaborating with VicTrack. One of the initiatives in question aims to deliver a village-style development, while another aspires to build a skyscraper.

Provan explained that local perceptions of housing near to railway tracks have shifted significantly over a period of two decades. In the past, potential homebuyers might have been put off by noise. Nowadays, the prospective home purchaser is likely to see the attraction of being next to a public transport hub, and creative, modern design can limit the noise associated with trains.

Andrew Hayne of Marshall White underlined the fact that the price of a house is never determined by a single factor.