Firstly assume for a minute that it's 100% feasible. I mean who knows, it could end up being a disaster, but let's assume for this thought experiment it will be a huge success as I don't want this discussion to be focused on tech.
Anyway it only dawned on me recently what a significant impact this could have on real estate. Proximity to bus stops / train stations, shops / restaurants and the CBD are arguably the three biggest factors in buying property (for most people). What happens when Coles sets up a system to load driverless cars with all your groceries and have it drive back home to you, without you even being in it? Or what if you don't have to worry about parking anymore to visit the local Westfields because upon dropping you off, it returns home until you're ready again.
Does this upend the current definition of a "good location"? Would property values over time shift in different directions? Would I rather buy an acerage an hour away for the same price of an inner city studio if an driverless car could get me almost anywhere I want while I sit there sipping coffee and reading the paper? Sure I could do this on a train too, but it removes any friction involved in walking to public transport, switching to connecting busses etc. In this scenario, I walk to my garage, sit down, and step out when I'm there. This seems more game changing to me than the current pitch of "hey ma, no hands!". These cars over time would be reconfigured to be more like little lounge rooms. You'd play games, watch tv etc. You see all these rich people in California living way out in huge estates far from the city and they don't care, they have drivers. It's not inconvenient for them at all. It would bring this same luxury to everyone.
Anyway my thinking was that of all the iminent technologies, this is the one that's most likely to affect real estate over the coming decades. The landscape would change completely. Think about how big Westfields or office buildings could be without having to worry about dedicating all that space to parking. Think about how fast cars could go (and thus how short trips will be) when every vehicle is expertly controlled by a machine.
Thought?
Anyway it only dawned on me recently what a significant impact this could have on real estate. Proximity to bus stops / train stations, shops / restaurants and the CBD are arguably the three biggest factors in buying property (for most people). What happens when Coles sets up a system to load driverless cars with all your groceries and have it drive back home to you, without you even being in it? Or what if you don't have to worry about parking anymore to visit the local Westfields because upon dropping you off, it returns home until you're ready again.
Does this upend the current definition of a "good location"? Would property values over time shift in different directions? Would I rather buy an acerage an hour away for the same price of an inner city studio if an driverless car could get me almost anywhere I want while I sit there sipping coffee and reading the paper? Sure I could do this on a train too, but it removes any friction involved in walking to public transport, switching to connecting busses etc. In this scenario, I walk to my garage, sit down, and step out when I'm there. This seems more game changing to me than the current pitch of "hey ma, no hands!". These cars over time would be reconfigured to be more like little lounge rooms. You'd play games, watch tv etc. You see all these rich people in California living way out in huge estates far from the city and they don't care, they have drivers. It's not inconvenient for them at all. It would bring this same luxury to everyone.
Anyway my thinking was that of all the iminent technologies, this is the one that's most likely to affect real estate over the coming decades. The landscape would change completely. Think about how big Westfields or office buildings could be without having to worry about dedicating all that space to parking. Think about how fast cars could go (and thus how short trips will be) when every vehicle is expertly controlled by a machine.
Thought?