Author:Shane Martin, David Norman, Auckland Council Chief Economist
Source:Auckland Council Chief Economist
We would expect that properties in Auckland’s rapid transit network catchments (the train and northern busway stations) would sell for more money given the additional amenity that comes from access to frequent, faster public transport.
Our analysis shows that the maximum walk-up distance to the rapid transit network (RTN) that adds value to a property is shorter than we had anticipated although there are several likely reasons for this we have not been able to model.
Nevertheless, homes that are well-served by trains or express buses command a significant premium over those that are not.
The work suggests that the completion of the City Rail Link (CRL) and the proposed light rail project would provide a significant windfall gain to nearby properties that has not yet been fully realised. This has policy implications in terms of the case for recouping some of the costs of construction from those who benefit from the windfall gains of new RTN infrastructure. ...
Insights. Topical commentary on the Auckland economy