Hamilton, just outside of Toronto, is expecting increases in property value from light rail that would be in the new Toronto long range plan.
Somewhere in the article they discuss that it will take a year, but I'm not sure if that is believable. I often wonder with studies like this what the real time frame is. Such a quick time frame doesn't seem reasonable while a long time frame seems so far off it might just seem like regular increase. They also say that there is a price premium on living near highways.
Though I wonder how much that will change with gas prices. In a PBS special that is going to air soon, they interview a family who are spending over $1,000 a month on gas because they live so far away. Those housing prices have to reflect that truth. As my colleague Scott Bernstein says, we need to build cities that isolate citizens from these peaks and valleys of cost. I believe the biggest way to do that is to invest in sustainable transportation.