Calgary’s CTrain facilities were found to have a significant impact on the prices of homes situated within 800 metres of the system’s stations, according to a new analysis by Zoocasa.
Bargain seekers would have a particularly wide range of choices at the Northeast, which offer the city’s most affordable houses located near the transit line. Detached residences in close proximity to Rundle Station are the lowest-priced in this regard, with an average home price of $248,750.
Other good affordability options are homes near Franklin ($285,750) and Marlborough ($295,667) Stations.
Meanwhile, buyers who prefer apartments would likely check out those near Somerset-Bridlewood, with an average unit price of $199,214. Apartments near the Crowfoot ($206,125), Anderson ($210,639), Sunalta ($210,971), and 5 – 39 Avenue ($217,000) stations are also highly affordable selections.
A recent survey by Genworth Canada (in collaboration with Royal LePage) has found that public transport nodes like railroads and highways were among the main factors influencing home buyers’ choice of location.
The study found that 42% of households in Calgary selected their homes due to having a similar work commute time for both spouses/partners. For perspective, the national average is at 36%.
Home-work distance was also found to be a crucial element in nearly half (48%) of Canadians residential purchase decisions, with this contingent saying that they would rather have smaller homes as long as their workplaces are readily accessible.
“Even in cities where first-time home buyers have to push themselves to get on the property ladder, cost isn't the only consideration when buying a first home,” Royal LePage president and CEO Phil Soper said.
“While some young people are relocating to more affordable cities, those who stay value shorter commutes and access to the benefits of city life.”