Research finds new tram routes in cities boost nearby house prices
Property Wire reports Edinburgh, Manchester, Nottingham and Birmingham have all seen the effect with properties near new tram stops seeing prices up by an average of 12% in the first two years of the lines opening.
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Cullen Property opinion:
Properties near improved transport links, especially trams, have seen significant price growth. The Edinburgh tram route from Edinburgh Airport to the city centre (York Place) opened in 2014 and since then, the average house price along this this route has increased by 10%. We have many properties on our portfolio located here and there are further talks of the tram line developing down Leith Walk over the next few years. Not only would this be a great transport addition to Leith, but it would help improve property prices in and surrounding Leith Walk. If you are an investor and Leith has never been on your Edinburgh property radar before, then it may well be worth a look as a potential BTL property location. Our most recent property investment opportunity is situated on Leith Walk, click here to view. |