Public transport infrastructure is a major factor to consider when looking into potential property investment regions. Not only are people interested in convenient commuting options to and from work or school, but as sustainability continues to become an increasingly influential aspect of Australian lives the need for more, cheaper options is a great way to look into. Therefore, public transport should be a major consideration when you start looking into locations for investment property.
Queensland recently announced plans to reduce the fare on public transport statewide in order to make it more affordable for individuals and families to catch the bus, train, tram and ferry throughout the region. This could be great news for those considering investment in commercial real estate in Surfers Paradise, especially when coupled with the increasing employment figures being seen across the Sunshine State.
Premier Campbell Newman said that from 3 November, Queenslanders will pay 5 per cent less to use public transport across the state, while fares will be frozen during 2015 – potentially saving people up to 7.5 per cent on their public transport fares over the next year. Mr Newman went on to say the changes will help put more than $297 dollars per person into the back pockets of people travelling from the Gold Coast to the Brisbane central business district and vice versa every year.
Transport and Main Roads Minister Scott Emerson said these results come after almost 22,000 people across the state voted on the decision, with 74 per cent opting for cheaper public transport.
"We left it up to Queenslanders to decide where almost $30 million of carbon tax savings should be reinvested and their clear choice was a reduction in fares," said Mr Emerson in a September 21 statement, stating that Queenslanders indicated fares were too high after increasing by 52 per cent over the last three years.
Furthermore, following these changes, there are expectations of employment growth across the transport industry. Under these new policies, an additional 3,000 bus and train services will be added to the state's public transport networks while 80,000 people across the region will benefit from the new initiative of free travel after nine weekly journeys – providing further incentive for people to ditch their personal vehicles and adopt public transport.
"On top of those benefits, passengers will now pay less for public transport across the State for the first time in Queensland's history," said Mr Emerson.
"The savings will be across the State so all Queensland public transport users will benefit from improvements in public transport affordability whether they live in South East Queensland or regional Queensland."
This could be brilliant for families and young professionals alike, with every little bit helping to save towards individual financial goals. Taking this opportunity to embrace an improving public transportation system not saves you money in the long run, but works towards protecting the environment by reducing the carbon footprint of Queensland as a whole – with more people taking up public transport as opposed to private commuting options.
If you're interested in purchasing sustainable Surfers Paradise commercial property, this could be brilliant news. Things like reducing business waste and reducing your employee's carbon contribution through their travels may seem like a small effort – but every little bit counts at the end of the day.
Now could be a great time to get in touch with a local commercial real estate agent to begin discussing the various options available to you across the Gold Coast and Surfers Paradise. As the region continues to become increasingly popular with people looking into investment portfolios and their own residential properties, getting a foot into the market could be a brilliant move to make for your future.