Melbourne is the latest city to roll out a string of projects to encourage residents to cycle in and around the metropolis, the city council announced yesterday (August 27).

This may be of interest to financiers looking for rental real estate in the capital city.

The emphasis on sustainable transport solutions may attract tenants to the area - presenting potential opportunities for property investment.

Lord mayor Robert Doyle said one of the key considerations has been to create a safer environment for cyclists in the city and in particular along Clarendon Street.

"We are spending $5.6 million on bicycle lanes across the city this year. While these works will extend the network, our first priority is to make it safer for cyclists," he said.

The council researched the way that Clarendon Street has been used by cyclists to determine how best to alter the bike lanes to make cycling easier and more accessible.

The bike lanes in East Melbourne are going to have separators on either side of the path to ensure there is protection from both parked and moving cars on Clarendon Street.

This project may help to encourage less confident cyclists to start cycling, Mr Doyle said.

He added: "11 per cent of all vehicles travelling in the city in the morning peak are bikes. We want to see this figure increase to at least 15 per cent by 2016."

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