New data has revealed the median price for suburbs along the Doomben line are “head and shoulders” more expensive than other southeast Queensland rail routes.
The Doomben line’s lowest median priced suburb was Albion at $751,500 while its highest was Ascot at $1.4 million. Overall the train line’s average price came in at $949,583, reports Domain.
If, however, your local line runs from Caboolture to Ipswich you can pat yourself on the back for your money smart ways, with the lowest average suburb house price of $371,250.
Commuters living on the Redcliffe to Springfield line are also pretty thrifty, with a median house price of $428,195 still placing these burbs squarely in the affordable zone.
But it may not stay that way for long, with this new Redcliffe rail corridor one that property speculators are watching closely for signs of a growth spurt.
So how much influence does a rail line exert over house prices in a suburb?
It depends. Suburbs like Hendra and Ascot on the Doomben line are pricey places because of their proximity to the city. The rail line has very little to do with it, says Domain Group chief economist Andrew Wilson.
But the further out you go, the more convenience a rail line offers. Ease of commute to the city can improve a suburb’s desirability and value.
And common sense must apply. A house directly on the rail line may offer a convenient commute but rail noise may put off some buyers or renters so you’ll appeal to a smaller market and can expect to see this reflected in your pricing.
Check out the average median house prices for suburbs along Brisbane’s rail lines:
Doomben – $949,583
Shorncliffe to Wynnum – $529,750
Ferny Grove to Beenleigh – $507,143
Redcliffe to Springfield – $428,195
Caboolture to Ipswich – $371,250