New rail network to provide real estate opportunities

The federal government has announced plans to investigate the possibility of a high speed rail network connecting major civic centres on the east coast of Australia.

A feasibility study is underway into the transit system that could see travel times between Sydney and Brisbane reduced to as little as three hours.

Based on similar technologies used in Europe, the trains would travel at speeds of up to 350 kilometres an hour .

Initial estimates put the construction of such a network between $61billion and $108 billion dollars, to be federally funded if the plan goes ahead.

A spokesman from the Australasian Railway Association, Bryan Nye, says the project is an infrastructure investment that could save the taxpayer in the long term.

Nye asserted: "Australia has spent, since 1985, $293 billion on this road network. The cost of road accidents each year to the health budget is $35 billion each year. Rail is the safest form of land transport and so really you have got to think, what's the best value for money?"

Fares for a trip between Melbourne and Sydney could start from as little as $100 one way.

If it goes ahead, there could be business opportunities for property professionals with leadership training as the new network would open up both travel and real estate options to new markets.