Motorways

[matt004]

Hi there

What are peoples views on purchasing/living directly next to a motorway. How much (if any) less value would you factor into a purchase price on a property that is right beside one?

Appreciate your thoughts.

Cheers
Matt

[SofaSurfer]

Personally I'd want tp pick the property up under-valuation to mitigate the downside to the property caused by proximity to motorway.

I flatted once years ago in an old villa in Greenlane, backing right on to the motorway. My room was at the back (facing the motorway). It was a nightmare! Tenancy turnover would be much higher in this kind of property I expect (but I have no data on this and also, it's amazing what people can get used to). So it wouldn't just be purchase price I'd be considering, but the fact that my vacancy/tenant churn would be higher than a property in leafy-streetsville.

[mlkmnz]

The only motorway land I'd buy is on the cliffs above St Mary's Bay. Or maybe directly on the otherside of the bridge.

[Carson]

I say at least it would be 30% cheeper then a house 50m away from MW.
I saw some houses take long long time to sell at a cheep price (30% or more) in both side of motorway in Remuera and Greenlane area.

[sarahk]

We own properties along where the new SH20 extension is going to go through Waterview. We still don't know exactly what route it's going to take and it's taking years to work through all the processes.

Luckily we don't want to sell right now but it must be causing issues for those who do.

[xris]

Hi there

What are peoples views on purchasing/living directly next to a motorway. How much (if any) less value would you factor into a purchase price on a property that is right beside one?

Appreciate your thoughts.

Cheers
Matt

Hello matt,

None whatsoever.

xris