Valuations and council work

[Strannik]

I have a property located at Wakerley. It's on the main road, and council is currently doing preliminary roadworks in front of it, including relaying underground cables, with trenches right on the border.

For the 2009 they have scheduled road upgrade, to widen it to 2 lanes each way, and at the same time moving the road further away from my property.

I'm currently going to top up the loan (bought the property end of 2006) in order to buy one (or a few) more properties.

Question is, how will ongoing roadworks affect valuation, and will it at all? How will widening of the road, and moving it away from the property affect the value of it, if at all?

Appreciate any feedback

 

[RumpledElf]

Can't see it affecting a bank valuation, but if you're planning to sell or rent it out while there's roadworks you may have some issues with them scaring potential buyers/tenants off.

The road outside my house is having extended roadworks done, and it is driving me nuts with all the trucks and blinking lights and beep beep beep and they've left the footpath in a horrible mess that is impossible to negotiate with a pram. On the upside, now someone has stolen the reflective tape off all the star pickets, there is the added amusement value of people driving into the star pickets at high speed. Stupid council.

Hope they've given you an indication of when they expect to be finished.

 

[Strannik]

Oh it's currently rented out, and the rent is going up by 30 bucks in a few weeks, roadworks or not. With the kind of tenants that are in there they don't really care if there is a roadwork outside.

If it's not gonna affect the valuation i will organize for my loan to be topped up on monday and go on a hunt for a new property