Improved transport system means 'property prices will go up'

Posted: 11 Jun 2008 13:03:36 GMT

A new scheme to update public transport in Manchester could "do a lot of good" for the property market in the city, an industry expert has suggested.

A new scheme to update public transport in Manchester could "do a lot of good" for the property market in the city, an industry expert has suggested.

Paul Collins, property editor of BuyAssociation, has said that plans to introduce a congestion scheme in the Capital of the North will help to increase the value of homes in the area.

Commenting on the new system, Mr Collins said: "If it's a lot easier for people to get to their properties, and to get around the city by public transport, then that's obviously a great thing for the properties that are being bought and the people that have already bought there."

The proposals are part of a £3 billion Government Transport Innovation Fund (TIF) and include improving tram, bus and train services.

Comparing the scheme to London's congestion charging, Mr Collins said that "if you’ve got a good public transport network then prices will go up, so it should be a real help".

Unlike the current system used in the country's capital, there will be two cordons, one in the Greater Manchester Urban Area and another covering the City Centre.

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