Too high? Light rail to cost $90m a kilometre

 

News article: Too high? Light rail to cost $90m a kilometre

THE viability of a 23-kilometre, $2 billion stretch of light rail is up for public debate.

  bevans Site Admin

Location: Melbourne, Australia
THE viability of a 23-kilometre, $2 billion stretch of light rail is up for public debate.

Sunshine Coast Council has released the findings of initial feasibility studies into the infrastructure proposal.

The project, which would rely heavily on state government funding, was estimated to cost $90 million a kilometre to build.

The light rail would potentially service Caloundra South, one of three new areas that will hold 60% of the Coast's population growth by 2031, according to the council's $26,000 document.
Too high? Light rail to cost $90m a kilometre


How does this compare to the light rail costs for Canberra?

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  freightgate Minister for Railways

Location: Albury, New South Wales
Australian costs do seem high. Where is the money going you have to ask.
  don_dunstan Minister for Railways

Location: Adelaide proud
Australian costs do seem high. Where is the money going you have to ask.
freightgate

Lawyers, merchant banks.
  RTT_Rules Dr Beeching

Location: Dubai UAE
Lawyers, merchant banks.
don_dunstan

And the actual workers and managers who build it as they earn more than most overseas counterparts
  speedemon08 Mary

Location: I think by now you should have figured it out
And the actual workers and managers who build it as they earn more than most overseas counterparts
RTT_Rules

And highly inflated land prices..... and inflated essential services
  RTT_Rules Dr Beeching

Location: Dubai UAE
And highly inflated land prices..... and inflated essential services
speedemon08

Australia has backed itself into a corner on land prices. Its almost unbelievable that a normal block of land in a regional city can cost well over $200k, yet we have one of the lower population densities in the world. Friends moving to regional Oz from large cities in Canada who owned their houses in Canada had to borrow $100k's to buy an average house. I just went on holidays to Cyprus. I can rent a modern 3 bed villa with sea views with a pool for $600-700/mth.

Part of the issue for Australia compared to others is the govt won't limit finance for properties to 80%. Following the GFC a number of countries did this to limit future exposure to future sudden downturns and thus limit the number of potential defaulters and bank bad debt. Potentially they should also go further and limit how much finance dual incomes can also contribute such that if one salary is lost the mortgage is still able to be at least sustained on interest only payments on the other income.

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