Studies have been supported by the classic economy theory; transportation improvement and the addition of new transport infrastructure impacts the value of surrounding land.
This was recenly the case withthe construction of the M7 Motorway which opened to traffic in December 2005.
A 40km Motorway linking the M2, M4 and M5 Motorways, saving motorists significant amounts of time. It links the M5 at Prestons in the South with the M4 at Eastern Creek and the M2 at West Baulkham Hills in the North.
There was a dramatic increase in Industrial and Residential land values along these routes and suburbs.
The newly planned WestConnex will include a widening of the M4 east of Parramatta, a duplication of the M5 East and new sections of motorway to rpovide a connection between the two key corridors and improve links and access points to and from Sydney's north, south, southern CBD and Port Botany.
The first stage of constrution is set to commence in June 2015 improving links from Church Street, Parramatta and Homebush Bay Drive.
It is no doubt that WestConnec will improve all values in all sectors of the market place.
Author: Duarte Figueira | Raine & Horne Commercial Homebush | 4 November 2014
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