Hi All,
I recently come across a townhouse development on a main road – 2 lanes both way – here in Adelaide.
The properties have been reduced in price but as I am unsure of the impact on the property being on a main road, I am not sure if they have been reduced enough.The properties are new, they have commercial grade insulation around the doors and the sliding doors used upstairs to a small balcony are all double glazed to reduce the noise. They did a reasonable job but nothing will get rid of all the noise.
Does anyone have any research on the impact of main roads (dual lane both ways) both on the initial rental value but then long term growth?
Cheers,
BrettHi Brett – my first property (17 years ago) which I still own is on a main road in SE Melb. I subdivided it and kept the back townhouse. In this area the value of my townhouse v townhouse sold in the area is comparable with no major impact on valuation. The road is busy but not a major impact on value or tenant.
Now when I do buy now – I donot buy on a main road, I prefer the privacy of a side street so definitely it impacts my decision in terms to buy. To answer your question – I don’t have market research but I would think it does impact selection for a developer or buyer.
Cheers Ivan
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