News and Media

Public transport top priority for house hunters

Easy access to rail connections, buses and trams is the overwhelming priority for house hunters when choosing a property.

A poll carried out by PRDnationwide has revealed that public transport is top of the agenda for house hunters, with more than half of respondents considering public transport as the most important amenity to have nearby when purchasing a home.

The second most important factor, a supermarket, trailed home at just 16%, while 12% felt a cafe or restaurant was most important to have close by. Only 8% of respondents were most concerned about having a school nearby.

'People are choosing a property based on how it fits into their lifestyle - not just how many bedrooms and bathrooms it has,' said Aaron Maskrey, PRDnationwide's research director.

'Increasingly, congested roads and rising fuel costs mean public transport was now higher on buyers' wish lists than ever before.

'A reliable train, bus or ferry terminal nearby can add thousands to the purchase price and create greater competition for the property - buyers crave convenience,' he said.

What does that mean for investors? Well, choose your property carefully - near public transport and good levels of amenities - and you'll be able to attract more potential tenants. Also, if and when it comes to sell, you're more likely to get a higher price.

Source: Your Investment Property. August 2011, page 9. Public transport top priority for househunters. Reproduced with permission.