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?
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?