People get around Victoria faster
Victoria's public transport is improving this month, with bus, train and tram users set to benefit from extra services.
The announcement will come as good news for investors, who no doubt will consider the strength of transport links when deciding where to buy investment properties.
On top of the Reserve Bank of Australia's early June decision to hold the official cash rate at 2.5 per cent, now could be the time to consider expanding a property portfolio in Melbourne or elsewhere in Victoria. Competitive mortgage products are available to investors and home buyers alike.
More frequent services
A statement from Victorian Premier Denis Napthine noted that close to 4,000 additional bus, train and tram services will be introduced across the state each week.
Accordingly, the state government has introduced more than 10,000 new services each week since coming into power.
"The [g]overnment is providing more train, tram and bus services to move more people, more often. We are able to do this because of our strong financial management," Dr Napthine commented in a June 27 statement.
The Dandenong corridor is receiving four extra services across the morning and evening peak, which is expected to benefit Cranbourne and Pakenham line users. Both groups of users are in luck, with a 50 per cent increase in services during 9 am and 4:30 pm on these lines. Previously, trains ran every half hour. This will now drop to every 20 minutes - a fact that's sure to please tenants as well as those with home mortgages based in the area.
The Frankston train line is also set to benefit, with extra trains during the morning weekday peak.
Tram lines will get 470 services every week across the network, according to Public Transport Minister Terry Mulder.
A number of growth areas will receive better bus routes, too.
Image credit: Jes