Bayside 'sky rail' project would have a massive impact on property prices.
Frankston train line level crossings removal project could cost more, after the Andrews government decided not to build "sky rail" in some of its most marginal suburbs. Edithvale and Bonbeach residents will not have elevated rail near their homes, as those key sections of the train line will be lowered under the road.
However, the government ruled out dropping the rail beneath the road in Carrum, concerning that it is not possible to lower the line due to the impact a trench would have on the Patterson River and the nearby wetlands. An elevated Carrum rail bridge will stretch out for 900 metres.
The impact of elevated rail on homes close by would be massive, with concrete structures impeding natural light. Dmitriy Evdokimov, a local real estate advisor said properties that front the elevated rail could face a value reduction. Houses abutting the train line were already valued at about 10 per cent below the suburb median, and the elevated rail might bring that to 15 per cent.
But for other residents in the suburb, he said, infrastructure projects were a leading indicator of price growth.
As for the Bonbeach, Chelsea and Edithvale level crossings lowering the tracks and upgrading stations could have a positive impact on property prices in those suburbs because it would minimise traffic congestion and make it easier for commuters.
by Dmitriy Evdokimov
Dmitriy incorporates integrity, energy, hard work, and creative service in every detail of your real estate transaction. He is a trustworthy person and works for the high set of values. The background in sports allowed him to grow as a hard worker and achiever.
Dmitriy specialises in effective communication and effective marketing techniques when selling a property. With superior marketing skills and outstanding knowledge of social media interaction and targeting to capture the right audience, he provides his clients with the best strategies on the market to achieve the greater exposure.
He will conduct a no fee appraisal of your property and discuss the pricing and possible selling strategies to maximise the value of your property. An appraisal will provide a good idea how much is your home worth and the investment growth it has achieved since your purchase.
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