Apartments near train station

[marleyblue]

I'm looking at a new apartment approx 20 metres from a train line and 50-70 metres from a station. The agent argues you can barely hear a train when the doors are closed (he would), but I'll find out when I view on the w/e. At least the train is not on a freight line.

Clearly proximity to the line and station will be a negative for rental values and valuation compared to comparable units several blocks back but I'd estimate the apartment is priced $50-$70k cheaper than similar stock away from the station and even new apartments being built 2km away on the highway.

I've searched the site and found a few threads but would love to get some opinions. The location is a well located Melb bayside suburb surrounded by million dollar suburbs, 5 mins to the beach, 25 mins to the city and undergoing gentrification. Is it right to assume the apartment value will rise along with the rest of the suburb or am I mad to even consider buying so close to a line/station?

 

[jpcashflow]

Hi
Do you know what the site is called?
The bayside area is always a popular area and being next to the station would score you brownie points.

Buying in a good area wing guarantee capital gain but buying the right property will help you meet this goal.

But demographics are changing and apartments in bayside area are very popular

 

[marleyblue]

Located in Highett. I like the dynamics of the suburb and feel future development and renovations in the area and proximity to beach, city, transport and shopping should allow for good solid growth and strong rental demand.

I'm wondering whether the proximity to the trainline will impact rental demand and prices?

 

[Stayer]

Is it the train line that runs through Highett station?

I lived one year in Hawthorn near Auburn station and it was terrible. Mornings and afternoons you get trains every 10-15 minutes. The worst was the metal bridge near the house. The noise was unbearable. I could break the lease but than I would have to pay until some clueless person who just arrived to Australia rent it.