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Australia’s proposed high-speed rail link could “solve the affordability issue in Sydney” and boost regional property prices by 10 per cent.
Raine & Horne chief executive Angus Raine said the long-proposed network between Brisbane, Sydney, Canberra and Melbourne would encourage people to move to regional areas and then commute into the capital cities for work.
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“I acknowledge a fast train... has been discussed for two decades, but it has the ability to solve the affordability issue in Sydney and push up regional real estate values by as much as 10 per cent once it becomes reality,” Mr Raine said.
“Goulburn is a major inland city centrally located between Sydney and Canberra and is very affordable, with three bedroom houses for under $250,000, while workers could be in Sydney in roughly 30 minutes.”
Central Coast Mortgage Brokers director Yvonne Ratcliffe said a high-speed rail link would encourage people to relocate from Sydney to the Central Coast, which is about 75km away.
That would lead to more demand for property on the Central Coast as well as higher prices, she added.
“I think it would be great for my business, but I don’t know that it’s going to happen any time soon,” she told The Adviser.
Brad Kirwan from Gold Coast firm Ocean Home Loans said a high-speed link would encourage people to make the 80km move from Brisbane to the Gold Coast.
“Anything that brings more people to the Gold Coast would be better for my business,” he said.“If you move more people down here, it means more construction and more properties.”
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