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Photo: Nelson Alexander Pascoe Vale Domain Group chief data scientist Nicola Powell said though there was not a direct correlation between train lines and house prices, it was interesting to look at how prices could fluctuate between stations. She said cases of stations further from the city attracting higher prices showed that it was not just distance from the CBD that determined property prices. “It highlights the fact that there’s other factors that influence our lifestyle; being close to shops, being close to parks, all of these things factor into house-price growth,” Dr Powell said. The data also revealed the inner-city suburbs of Collingwood and Richmond had lower medians than the next stops along the line. Just three stops from the city in Collingwood, the median house price was $1,125,000, significantly lower than suburbs six stations further along the line, including Fairfield at $1.39 million and Eaglemont at $1.93 million. Biggin Scott Richmond director Andrew Crotty said it came down to the size of houses available in each area. “There’s probably bigger houses out in Northcote and so forth whereas Collingwood has a selection of smaller houses,” Mr Crotty said. He said properties close to Hoddle Street and the freeway also pulled the median down, but that there were still a lot of desirable streets in the area close to parkland and the Yarra. “It’s often been the forgotten suburb,” he said. “If you don’t mind living in an upward manner, you can get a good quality of life close to the city.” On some lines, getting off one station later could save you up to $397,000 – for example staying on the train until Pascoe Vale rather than alighting at Strathmore.
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