A trams inflexibility is an advantage as its certainty increases investment values by regenerating cities

Nottingham and Sheffield

 

The property price rises in Nottingham as reported in the Daily Telegraph, 2013

Fast track to a boom

 

“Nottingham’s tramlines, ripped out 65 years ago, are now being re-laid. The prospect of superb transport is driving up the city’s house prices, finds Caroline McGhie.

 

The interest is also reflected by the speed at which properties close to the tram route are selling. A house at Cinderhill, a spur on the line, sold at £80,000 virtually overnight. In other affected areas, such as Hyson Green, which are full of down-at-heel little Victorian terraces, prices have been ‘rocketing’. ‘Houses which were going for £30,000 two years ago now fetch £65,000 to £90,000,’  says Richeux.

 

Comparisons are inevitably being made with Sheffield, where agents reported substantial price increases when its Supertram was installed, and where 80 per cent of new development is now within 500 metres of it. In Croydon, south London, too, where 30,000 people each day use the new Tramlink, there has been detectable upturn in shoppers, a large increase in house prices and a downturn in car parking.”