Transportation Improvements To Have A Direct Effect On Specific Calgary Neighbourhood Home ValuesApril 15, 2010
2010 Calgary Transportation Effect
Research Report Concludes That Select Property Owners Will Receive a 10 - 20% Increase in Their Property Values
Calgary, AB — April 15, 2010 —The Real Estate Investment Network (REIN™) a Division of Cutting Edge Research Inc. is pleased to release its 2010 update to The Calgary Transportation Effect, which details the impact of the upcoming transportation improvements, part of the government stimulus packages, on housing in Calgary. The report’s research concludes that prices in select Calgary 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 failure of the Province of Alberta to reach a deal with the Tsuu T’ina nation resulted in an update to the transportation report as different communities will now be impacted by the southwest portion of the ring road running entirely through city land.
The report also includes more detailed information on the addition of the West LRT Line and proposed future extensions and expansions to the Calgary LRT network.
REIN’s detailed research has found that there are three “Tiers of Impact” that will occur in the Calgary region:
First Tier, which will witness the most positive effects from the combined ring road and LRT improvements: NE — Saddle Ridge, Martindale, Falconridge, Taradale, Castleridge; NW — Rocky Ridge, Tuscany, Scenic Acres, Ranchlands, Silver Springs, Hawkwood.
Second Tier, which will feel positive impacts from either the LRT or the ring road: NE —, Coral Springs, Temple, Montery Park, Pineridge, Abbeydale, Applewood Park, Marlborough Park, Penbrook Meadows; NW — Bowness, Greenwood, Valley Ridge. SE — Chapparal, McKenzie Lake, Cranston, Auburn Bay, Mahogany, Copperfield, and Sundance
Third Tier regions will feel the ripple effect outward from the main impact areas; these include Cochrane, Balzac and Airdrie, as well as new developments near the Ring Road.
When the Ring Road and the new 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 Calgary 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 Calgary Transportation Effect report is available free to the public upon request by emailing the Real Estate Investment Network at firstname.lastname@example.org
About the Real Estate Investment Network™
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.