Aircraft noise has little impact on property prices, a study by the Queensland University of Technology has shown.
Aircraft noise has had little impact on property prices in suburbs near and around Brisbane airport, a study commissioned by Brisbane Airport Corportation has shown.
In fact, the study shows that property prices in some suburbs with high volumes of noise complaints rose at a faster rate than similar suburbs that were not affected by aircraft noise.
The study looked at 180,000 sale prices from between 1988 and 2014, in 40 suburbs ranging from those with a high number of noise complaints to those recording no complaints at all.
QUT property economist Professor Chris Eves, one of the report's authors, said, "Our findings suggest that factors such as proximity to transport, the Brisbane CBD, schools, recreation facilities, the airport and other services, far outweigh any negative impact experienced as a consequence of being under a flight path or from aircraft noise."
"Bulimba, which is under an existing flight path and records moderate noise complaints, has capital returns slightly higher than New Farm, which is not subject to any noise complaints," said Professor Eves.
"Units and townhouses in the high noise complaint suburbs showed an average annual capital return of 7.66%, which is higher than the capital returns in the moderate noise complaint suburbs of 7.40%," he said.