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Daniel, if this was the case, then zone 1 homes with good PT would be favoured and thus comnamd high prices. They do in the S E but not in the N or W. Sunshine and West Heidelberg are both Zone 1 and have similar socio-economic bases. Sunshine (train and good buses) has better PT than West Heidelberg (OK buses in some directions) yet Sunshine remains a shade cheaper. Another interesting pair is along the Clayton Berwick corridor. The normal pattern is for land prices to steadily drop with distance from the CBD, but Dandenong is depressed in more ways than one. Prices along this corridor reach their nadir at Doveton, before rising at Berwick, Narre Warren and even Cranbourne. If transport was decisive, then rail-based central Dandenong (and Noble Park) would appreciate vis a vis the outer areas (with less PT). And Rowville, etc would be less dear. Neither of the extremes of Frankston (Frankston Nth and Frankston Sth) are easy walking distance to their nearest stations (Kananook Frankston respectively), whereas central Frankston is, with prices nearer Frankston North's than Frankston South's. Interestingly the areas with the very biggest social disadvantage are just beyond a convenient walking distance to the train. Eg Braybrook, West Heidelberg, Doveton Frankston Nth and much of Hallam, Werribee Noble Park. Thus there seems to be a slight ordering of prices in the 0.5-3km radius from stations, with locations next to the station not necessarily being the poshest, but certainly a rung up from the bottom. In relation to the poshest suburbs, petrol prices shouldn't be an issue for those of sufficient means, so natural and human attractions will continue to be prime, even if no one has got around to putting in decent PT. On the other hand, some of the well-off can be quite frugal so do consider their living costs. Especially given that there is no land value capture system, so owners get the full advantages of being near transport infrastructure that they did not need to pay for.
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(VISITOR) AUTHOR'S NAME
Ryosuke
MESSAGE TIMESTAMP
16 december 2014, 17:15:59
AUTHOR'S IP LOGGED
62.210.78.179
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