The research is clear: train station proximity adds value. But how much? And does it depend on the line, the station, and the suburb? GeeVee analyses Melbourne’s station proximity premium across the network.
Station Proximity Premium by Zone
| Distance from Station | Price Premium | Yield Impact |
|---|---|---|
| 0-500m (walking distance) | +8-15% | +0.3-0.5% yield |
| 500m-1km | +4-8% | +0.1-0.3% yield |
| 1-2km | +1-3% | Minimal |
| 2km+ (car dependent) | Neutral or negative | Neutral |
Which Lines Add the Most Value?
| Line | Premium | Reason |
|---|---|---|
| Metro Tunnel (new) | Highest — 12-18% | New infrastructure, CBD access |
| Frankston / Sandringham | 8-14% | Bayside lifestyle, reliable service |
| Glen Waverley | 8-12% | GWSC school zone overlap |
| Hurstbridge / Eltham | 5-10% | Lifestyle suburb, less frequent service |
| Frankston outer | 3-6% | Longer commute, lower demand |
GeeVee Verdict
Yes — station proximity adds real, measurable value. The sweet spot is 200-800m from a station: close enough for convenience, far enough to avoid noise. New station infrastructure (Metro Tunnel, Airport Rail Link) adds the most value in the pre-completion window. Buy near future stations before they open.
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