THE opening of the new Perth to Mandurah railway would have an increasing impact on property values in the southern suburbs, says Travis Coleman, valuations manager of Propell National Valuers.
According to Mr Coleman, rising petrol prices and interest rates are putting financial pressure on families in the outer Perth suburbs, where many first homebuyers live.
Over the past two years, areas surrounding railway stations have shown strong growth, a trend that is not likely to slow.
“It will now take less than 50 minutes to travel between Mandurah and Perth via the new railway system and families can dispense with a second car, resulting in major financial savings,” Mr Coleman said.
“Properties within walking distance to the new railway stations will be in high demand from Fremantle to Mandurah.”
The trend is highlighted by the announcement that the State Government will rezone more than 700ha of land in the southern suburbs for residential development.