Local bike paths mean higher house prices

An article published on independent blog Crikey this week claims that the installation of the purpose built bicycle lanes in inner
city Sydney have resulted in an increase in residential property prices.

A video published by Fairfax and referenced in the
blog, contains a number of interviews with real estate agents and local owners/developers,
all of whom claim that the bike paths have added value to their houses – in
some cases up to $100,000.

The article, penned by transport planner Rachel
Smith, goes on to reference a number of pieces of academic research, all of
which point to significant economic (and social) benefits arising from the
provision of bicycle pathways.

Case studies include Lygon Street, Carlton (in
Melbourne), Delaware (in Pittsburg, North Carolina) and the City of Vancouver,
demonstrating that bikeways can help to support a diverse and resilient economy
with positive benefits for individuals.

You can read the article in full, including links to
all the case studies, on the Crikey website here.

If you need further convincing, CNN recently
published a collection of 15 of the world’s most bike-friendly cities. The
compilation only gets one Australian mention – Perth – but we’re hoping that you
will find inspiration amongst the cities listed. 

Transport planners take note!

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