Due to constant population growth in Frankston and Mornington Peninsula, Infrastructure Australia has announced as a priority the improvement of public transport connectivity to Frankston.
Frankston city council efforts to extend electrified line beyond Frankston train station is now one of the priorities for Infrastructure Australia in 2020.
INFRASTRUCTURE AUSTRALIA PRIORITY LIST FOR 2020
According to the Mayor, poor access to public transport underpins existing high levels of unemployment (5.7 per cent), youth disengagement (10.4 per cent) and low rates of people holding a Bachelor or higher degree (14.5 per cent) across Frankston City.
Delivering fast and reliable metropolitan rail and expanded bus services across the region to Frankston’s city centre, industrial precincts and growing Health and Education Precinct will relieve commuter based congestion, making it easier for people to travel to work, training, recreation and visitor experiences.
Sandra Mayer – Frankston City Mayor
These types of developments have an impact on the local property market.
Although accessibility to public transport is one of the desirable aspects in the rental and buying market, it doesn’t mean that the property market will go up the roof!
An interesting article wrote by Melissa Heagney on Domain explaining why not to buy at the end of the train line in Melbourne mentioning that buying in the end of train line doesn’t always mean that is a bargain! Source : Domain
How will these improvements affect Frankston and Mornington Peninsula real estate market? If you are looking to buy a property, we offer a free consultation that can help you to make a more informed decision.