Will there be a mad rush to sell when the new flight path kicks into action?
My answer is no, but it does pose some food for thought if you own property in Brisbane.
Recently I posted a House Hunting Tip to my social media channels about how to check if your home is going to fall within Brisbane’s new Flight Path and I was curious to see the response from local home owners.
Within minutes of the post being shared, I had local home owners reach out to me and ask about whether they should be concerned that their home was going to be affected.
Now, the reality is, when we live in the city (aka Brisbane city) or any city for that matter, we are undoubtedly going to be impacted by the day to day noises of life.
The hum of traffic, planes flying overhead, motorcycles, scooters, bicycles and residents walking to and from their homes to go about their day to day. You name it. The more people and activity in a certain space, the noisier it’s going to be.
The question is, can you ADJUST to this or does it drive you crazy enough to force a relocation to toward suburbia.
The lifestyle perks and convenience of living in a city are undoubtedly obvious, and this clearly contributes to why properties within a 10km radius of a city’s CBD often outperform those on the outskirts.
If we run the capital growth figures on inner city areas, the numbers reflect a positive outcome for property owners, and have done so for as long as I have been reviewing statistics.
This is no different to properties that fall within a flight path.
When we put property under the microscope from an investment perspective, I can safely report that in Brisbane, properties that fall within or very close to an existing flight path have NOT experienced a decline in values as such.
Sure, when I’m buying for an investor or a home owner it is certainly something they will take into account, but ultimately, it is safe to say that NO, your property’s value is NOT going to decrease because it is now in the new flight path.
In other words, I wouldn’t be rushing to get your house on the market before the new runway opens and the additional air traffic increases.
The question you need to ask yourself is, are YOU going to be able to adjust to the increased noise from the planes flying overhead?
For those of you who missed the original social media post, here is the link to see if your property is in the new flight path and/or will be affected by increased noise from the overhead air traffic.