Railway Terrace, Milton
1-2+s bed · 1-2 bath
Property Type: Apartment
A view can add considerable value to a residential property. There is a general rule of thumb that suggests that an uninterrupted and close-range view over parkland can attract a 10% premium if the open space is of substantial size and is well vegetated. An uninterrupted view of the city skyline can be worth a 20% to 25% premium. Note that many apartments in The Milton will have city, river, parkland or
- irect Access to Public Transport
Being within easy access to public transport and living within half a kilometre of a transport node can add considerable value to a residential asset. The Milton is being built immediately adjacent to a railway station and buses are a short walk away. Buyers over recent years are paying between 10% and 20% more to live within close proximity to
a railway station.
- Parkland and Amenity
Proximity to quality green space is one of several major drivers in the decision to buy. Increasingly, apart from “hard” common facilities like pools, gyms and meeting rooms, residents in higher-density apartment
projects wish for“softer”spaces such as grass, mature trees/plants and places to sit. People also like views of natural or naturalized landscapes.
Living within one kilometre of major parkland – as The Milton will be following Brisbane City Council’s proposed rejuvenation of the former tennis centre site
– attracts a 3 to 5 per cent price premium.
- Access to Schools and Universities
Dwellings within half a kilometre of a public secondary school grow by around 3% more in value each year than similar dwellings located further away. A higher grown rate of nearly 8% per annum is usually achieved
for residences located (again with half a kilometre or so) near a private secondary school. Overseas studies show, regardless of grade structure, that good schools boost house prices by between 3% and 5% per annum.
- Lifestyle and Community
Living within close proximity to an established lifestyle is very important, especially to younger buyers/renters. Such properties have been attracting premiums of between 10% and 15% across South East Queensland over the past couple of years. The Milton is in close proximity to well-known lifestyle precincts such as Park Road and Rosalie, and has over 300 cafes, bars, restaurants, boutiques and specialty
stores within 1km.