Eastlink Freeway, Effect on home renovating values

Today, I note the valuation effect of the new Eastlink road a $3.6 Billion Freeway. It links Frankston to Ringwood via a 39 Kilometre tollway. The State Valuer General has noted that the outer East and South Eastern suburbs, have jumped by substantially more than the Melbourne average. The quick, easy, access to the city has caused home values to jump. Even the historically, less valuable areas like Pakenham, Berwick, Rye, Carrum Downs, Toogarook, and Narre Warren have had strong valuation increases.  Please note, Valuers Generals figures are usually about a year out of date, as they take time to be collated and released.

The opening of a new transport link, like a freeway can have a compounding favourable effect for 25 years, for example  the Westgate bridge, opened in 1977 which opened up the Western suburbs. Traffic on the Eastlink Tollway has increased strongly over the last six months, with the June figures up 15%  to 169,000 a day.  Recent July figures are also excellent. The expectation is for future traffic growth, especially when the new Peninsula freeway link is completed. The Eastlink tollway is still in its inital “ramp up ” phase which will last for atleast an extra year.
In order, to download your Free book

1     Head to the top of the page, right side

2     Enter your name and email

3     Click, on”Send me the Free ebook”

4     Return to your email and download your Free ebook.