[URBAN NOTE] "GO expansion could boost GTA property values"
The Toronto Star's Tess Kalinowski reports on a study that suggests, plausibly enough, that increases in GO Transit rail service to outlying communities in the Greater Toronto Area will boost real estate prices there.
The plan to expand the GO train system to 15-minute, all-day two way service could increase some Toronto area property values up to 12 per cent.
It could also make housing up to 18 per cent more affordable in some areas of the region, according to a study of 773 communities commissioned by the Toronto Real Estate Board (TREB).
But maximizing those benefits depends on local municipalities making it attractive for commuters to get to the station, said the president of a data analytics company that studied the impact of GO’s Regional Express Rail (RER) expansion on Toronto region housing prices and affordability.
“While the GO station may be close to people it may not be accessible to them,” said Paul Smetanin, president of the Canadian Centre for Economic Analysis (CANCEA).
Areas that stand to gain the most in terms of affordability from RER are those outside the city, places such as Barrie, Guelph, Hamilton and King.