Transportation Improvements To Have A Direct Effect On Specific Edmonton Home ValuesMarch 09, 2010
Research Report Concludes That Select Property Owners Will Receive a 10 - 20% Increase in Their Property Values
Edmonton, AB — March 9, 2010 — The Real Estate Investment Network (REIN™) a Division of Cutting Edge Research Inc. is pleased to release its 2010 update to The Edmonton Transportation Effect, which details the impact of the upcoming transportation improvements, part of the government stimulus packages, on housing in Edmonton. The report’s research concludes that prices in select Edmonton neighbourhoods will receive a 10% to 20% premium, over and above what the rest of the city’s market does in the coming years.
With the completion of the Ring Road and the extension of the LRT, real estate prices in key neighbourhoods will increase more quickly than in other regions of the city due to improved transportation linkages.
REIN’s detailed research has found that there are four “Tiers of Impact” that will occur in the Edmonton region:
First Tier:This region will enjoy the twin impact of the Ring Road access and LRT expansion: Blue Quill, Ermineskin, Sky Rattler, Twin Brooks, Park Allen, McKernan, and Belgravia. Lewis Estates, Belmead, Aldergrove, and Thorncliff.
Second Tier: areas which will also feel a strong positive impact with one of the major improvements significantly increasing long term demand: South Mill Woods, Pleasant View, Lendrum, Jamieson, Glastonbury, McCauley, east Queen Mary Park, McDougall, Spruce Avenue, and Prince Rupert.
Third Tier: areas which will feel the impact in years to come once the Northern Section of the Ring Road is designed and completed: NW) Castledowns neighbourhoods, Lago Lindo; (NE) Miller, Casselman, Kirkness, Fraser, Rundle Heights, Abbotsfield. Kirkness and Fraser will be updated to a Tier 1 when construction begins on the northeast section of the Ring Road and the LRT extension to Gorman receives funding.
Fourth Tier: Regions which will feel the ripple effect outward from the main impact areas. These include St. Albert, Ft. Saskatchewan, Devon, and Sherwood Park.
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 Edmonton 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 Edmonton 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