Brand New Report: Impacts of Transportation Improvements on Hamilton Real EstateMay 13, 2010
Research Report Concludes That Select Property Owners Will Receive a 10 - 20% Increase in Their Property Values
May 13, 2010 — The Real Estate Investment Network (REIN™) a Division of Cutting Edge Research Inc. is pleased to release The Hamilton Transportation Effect, which details the impact of the upcoming transportation improvements on housing in the Hamilton area. The report’s research concludes that prices in select Hamilton neighbourhoods will receive a 10% to 20% premium, over and above what the rest of the city’s market does in the coming years.
The announcement of proposed rapid transit lines in Hamilton lead the REIN team to undertake a research report on the impacted neighourhoods.
REIN’s detailed research has found that there are three “Tiers of Impact” that will occur in the Hamilton region:
First Tier: Neighbourhoods located near the on and off ramps to the Red Hill Valley Parkway. These include: McQuestern East and West, Barton, Nashdale, Kentley, Glenview East, Corman, Red Hill, King’s Forest and Albion Falls.
Second Tier: Includes areas that will also be positively impacted by the easier access and traffic flow created by the Highway 8 link to the Red Hill Valley Parkway. This will allow commuters from as far away as Toronto and Oakville to cut key minutes off their drive.
Third Tier:Areas that are within 800 meters of the proposed LRT and Go train stations in Hamilton. These areas will move up to second tier once the official announcements are made as to exact locations, then eventually move to first tier once the actual construction begins. Communities impacted by future LRT lines include: Winona, Green Acres Park, Greenford, Riverdale West, Eastgate, Corktown, Beasley, Durand, Central, Ainslie Wood East, Cootes Paradise, Westdale South, Mt. Hope, Buchanan, Mohawk, Bonnington, Southam, Centremount, Kirkendall South, Ancaster, Hill Park, Bruleville, Thorner, Burkholme, Crown Point West, Crown Point East, Homeside, and Pleasantview.
When the LRT stations are completed, communities within an 800-metre radius of these transportation improvements can anticipate a 10%–20% increase in their property values. The largest effect will be felt in older and more established neighbourhoods.
“Our research shows that when a highway increases accessibility to the region by providing new access or shorter commute times, residential property values rise by 12%–15% over similar properties not affected by the new highway,” says Don Campbell, author of the best-selling Real Estate Investing in Canada. “People need to understand that commute and travel distances are now measured in minutes, not kilometres.”
The 2010 Hamilton Transportation Effect report reviews the peer-reviewed academic research that has been conducted on the impact of light rail, highway expansion and road improvements in other parts of the world.
The Hamilton Transportation Effect report is available free to the public upon request by emailing the Real Estate Investment Network at email@example.com
About the Real Estate Investment Network™
Founded in 1993, the Real Estate Investment Network™ (REIN) has grown over the years to become Canada’s leading real estate research, investment and education organization. It serves more than 3,000+ member clients who own more than 26,000 properties (valued at over $3 billion) across the country. Members use the unbiased research and proven systems to invest in properties in economically strong regions across the country.
REIN does not sell or market real estate to its members or the general public, but instead conducts objective and unbiased research, analysis and investor education.
The foundation of REIN’s work is the research and analysis of current real estate trends and patterns. This information is then disseminated to members through regular seminars in Toronto, Vancouver, Calgary and Edmonton, and via research reports that detail current and emerging trends. REIN’s primary purpose is to provide expert assistance to its members and other Canadians to assist them in making sound decisions about purchasing principal residences and investment/recreational real estate. This Report is one such research educational publication, as are Don R. Campbell’s bestselling books Real Estate Investing in Canada, 97 Tips for Canadian Real Estate Investors, 51 Success Stories from Canadian Real Estate Investors, and 81 Financial and Tax Tips for the Canadian Real Estate Investor.
All research can be accessed at: www.realesatateinvestingincanada.com.