[Greens-Media] Property values hit by East West Toll Road

[Elizabeth.Ingham at parliament.vic.gov.au]

Victorian Greens leader Greg Barber says the Napthine government should 
release the impact of East West toll road proposal on property values 
after City of Melbourne was forced to reduce rates for an affected 
landholder.

"The toll road might make money for merchant bankers and construction 
firms, but it will destroy the property values near the road," said Greg 
Barber MLC

"One company has already had their rates cut because their land is next to 
a western section tunnel mouth.* In places like Parkville Gardens, where 
the whole reasons for living there is the parks and peaceful surrounds, 
prices are going to plummet."

"We know the government has PwC doing an economic appraisal.  Surely that 
study includes the lost property values, so let's see it."

"Loss of home values to the landholder is bad enough, but it will also 
affect rates revenue for four local councils," said Mr Barber

For comment: Greg Barber - 9348 2622

* City of Melbourne discounted rates to owners of 642-658 642-658 
Footscray Road, West Melbourne by $25,843.82 due to East/Westlink impact. 
See page 21 of City of Melbourne 2012-13 Third Quarter March 2013 Year to 
Date Financial Performance Report. 
http://www.melbourne.vic.gov.au/AboutCouncil/Meetings/Lists/CouncilMeetingAgendaItems/Attachments/10721/6.3%202012-13%20THIRD%20QUARTER%20MARCH%202013%20YEAR%20TO%20DATE%20FINANCIAL%20PERFORMANCE%20REPORT.pdf

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Liz Ingham
Office of Greg Barber MLC
Northern Metropolitan Region
Victorian Greens Leader

P: 9348 2622
M: 0409 333 595
E: elizabeth.ingham at parliament.vic.gov.au
W: http://mps.vic.greens.org.au

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Parliament of Victoria                                                                                                                    . 
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