Gautrain – Having a “Huge Positive Effect” on Property Prices
Initially people were sceptical and it was thought that environmental objections would be raised in that property owners would not be able to sell properties that were in close proximity to the Gautrain route. This has proved otherwise as property prices along the Midrand station area are booming and large residential construction projects are underway with more planned.
The positioning of the Gautrain will also prove beneficial to the Midrand residents as commuting will be easier and their own transport will not be required. A huge positive effect is anticipated on the local market in this area which will also bring about a spin-off on the buy-to-rent market.
With the completion of the Gautrain, it is anticipated that the current stressful commute between Pretoria and the Northern Suburbs will be alleviated somewhat, and should become a very attractive alternative. The Gautrain is expected to reduce the number of vehicles travelling on the N1 Ben Schoeman highway by at least 20%. Predicted property values in the areas surrounding the Gautrain stations should also escalate once it is up and running.
The rail network will be 80 Kilometres in total. Using one integrated public transport ticket, commuters can also make use of the 125 luxury Gautrain buses that will provide transport to destinations within a 15 kilometre radius.
The Gautrain, currently under construction will not only change the commuting habits of thousands of Gauteng residents, but also where they choose to live. It is anticipated that around the Tswhane and Midrand areas, new interest could be injected into some of the under-capitalised suburbs and possibly stimulate development between Pretoria and the OR Tambo International Airport.
Speculation has it that suburbs situated along the rapid rail network will become high density, economic areas due to the cost effective alternative that it will offer for pricate commuting on high-volume conjested link roads as well as the inner city rejuvenation projects which are already underway. Travel time from Johannesburg Park Station to Rosebank to Hatfield, Pretoria is anticipated to be approximately 42 minutes with five stops in between. Trips from Sandton to OR Tambo International Airport will be approximately 15 minutes.
Ten station locations have been identified:
Johannesburg Park Station - (underground station)
Rosebank - (underground station)
Sandton - (underground station)
Marlboro - (station at grade)
Midrand - (station at grade)
Centurion - (station on structure)
Pretoria - (station at grade)
Hatfield - (station at grade)
Rhodesfield – (station on structure)
OR Tambo International Airport – (station on structure)
Courtesy: Agent – The Official Publication of the Estate Agency Affairs Board
“Redressing the Past, Building the Future and Guiding the Real Estate Business towards Professionalism”