Assessing the Impact of Accessibility Improvement on Property Value Capitalization Post Perth – Mandurah Railway Opening

Abstract

The research examines the behaviour aspect of LUTI (land use transport integration) in relation with the public transport extension emerged in the area by the Mandurah Line in Perth Metropolitan Area. The question on the contribution of the station precincts along the Mandurah line to increase public transport patronage has been considered for more than seven years now. The LUTI is examined by considering mode choice, as well as incorporating property value capitalization and public transport accessibility enhancement post rail opening. By incorporating the behavioural aspect in the LUTI analysis, i.e. we are able to quantify the relationships between land-use modifications, accessibility, and mobility. This paper discusses on the first finding at the preliminary stage of analysis. The correlation between property value and increased accesssibility post public transport extension is weak. Simple regression analysis shown 5-7% contribution of accessibility on property value capitalization; however, capitalization mostly emerged due to spilover outside the Mandurah rail line catchment, implied unobservatory factors other than accessibility improvement have more influence on capitalization of property value.