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[URBAN NOTE] “GO expansion could boost GTA property values”

The Toronto Star‘s Tess Kalinowski notes a study suggesting that real estate prices outside of Toronto are likely to spike if the GO Transit train system expands its services outside of Toronto.

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.

“A household in Barrie commuting by car could shift their affordability by up to 18 per cent,” he said.

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Written by Randy McDonald

February 1, 2017 at 8:45 pm

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