For much of the last five years a major concern in New Zealand has been the rapidly escalating cost, and associated affordability, of housing. This is particularly apparent for those seeking their first home. With house prices setting new records virtually every month, those looking to purchase in inner city suburbs are being forced to consider houses in outer suburbs or in provincial locations. One of the features of inner city suburbs is the availability of public transport. A newspaper article published in mid-January considered the effects of public transport, particularly commuter rail, on inner city house prices. The article quoted Auckland City Council's Chief Economist, Stan Martin, who has noted that homes and apartments in Auckland, within an easy walking distance - 500m or less - of a railway station, attracted a premium above similar properties further away. Properties within a 260m walking distance of a railway station on the eastern and southern lines were the most valuable, pricing at 19% above similar properties further away.
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