Richmond’s supervised injecting room has wiped almost $60,000 off the value of houses within walking distance but has not hit prices in the wider suburb, a study shows.
it destroyed their property prices, but beyond anecdotes from real estate agents and suburb-wide data there has been little hard evidence to back that up.
The research team pulled data from 9352 house and apartment sales between 2016 and 2021 within a two-kilometre radius around the injecting room on Lennox Street in Richmond. The zone also covers parts of Abbotsford, East Melbourne, Collingwood and Fitzroy. “We clearly see the effect happens straight after. The timing is perfect,” said Dr Sergey Alexeev, a health economist at the University of Sydney and lead author on the study. “The effect is large – and it does not go away.”found house prices fell more the closer they were to the room – within 400 metres they fell by between 7 and 11 per cent compared with the rest of the zone – and the effect completely disappeared outside an 800-metre radius.
“I just don’t know how you can be quite definitive the injecting room is directly responsible,” he said. “There are too many factors going on. The area is very diverse in terms of housing mix – how do you account for that?”Credit:Victorian Alcohol and Drug Association executive officer Sam Biondo pointed to the lives the centre had saved.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Richmond safe injecting room made permanent after late-night voteA bill to make Victoria’s first safe injecting room permanent in North Richmond passed the state’s upper house in a late-night vote on Thursday.
Read more »
RBA head Philip Lowe says house prices were behind decision to raise ratesFollowing the board of the Reserve Bank's decision to raise interest rates, governor Philip Lowe said people need to believe inflation will come down, as fear of constant inflation could only make it worse.
Read more »
Minns backs friend and Nationals MP for key upper house roleNew South Wales Premier Chris Minns has backed a Coalition politician and 'close friend' to take on a key role in the state's upper house.
Read more »
Nationals MP controversially accepts role of NSW Upper House PresidentNew South Wales Nationals MP Benjamin Franklin has controversially been offered and accepted the role of State Parliament Upper House president. Premier Chris Minns offered Mr Franklin the role despite being a political opponent in a bid to get their legislation through the Legislative Council, where they don’t hold a majority. Mr Minns and Mr Franklin are close friends, having gone to university and holidaying together.
Read more »
Orange is the new hack: 891 more lobbyists gain inside access to Parliament HouseFederal authorities are being asked to reveal the names of the politicians who give lobbyists full access to Parliament House after growing frustration over hundreds of people who can wield influence in the building without disclosure.
Read more »