Real estate in Coquitlam and Surrey just got a whole lot pricier after the province announced three new SkyTrain lines yesterday.

"It will add billions to property values," said Don Campbell, president of the Real Estate Investment Network.

North American studies show properties increase 20 per cent if they are within 1,000 metres of transit stations. If the property is up-zoned to high-density residential, the value jumps a further 100 per cent.

Campbell has a tip for anyone owning a property near a line or thinking of buying one.

"Find out where the line is going -- see if you're within 1,000 metres -- and prepare for a very fun ride," he said. "You will see the [smart money] slowly moving into that marketplace."

People, he says, shouldn't buy closer than about two blocks because crime and noise become issues. They should also be prepared to wait four to five years after the stations open or to have governments change their minds altogether.

SkyTrain stations all over the Lower Mainland have become magnets for apartment towers and lowrise condos; Metrotown in Burnaby is the best example of an area transformed by transit into a sea of highrises.

Campbell expects the Evergreen Line in Coquitlam to have the greatest impact on values, followed by the extension of the Expo Line along King George Highway in Surrey.

Those areas are less built-up than the Broadway corridor in Vancouver, where the UBC line will be located. Kitsilano prices are already sky-high.

Meanwhile, NDP transportation critic Maurine Karagianis says the issue is all about land speculation.

"TransLink has been given all kinds of powers to do land-purchasing. I think we're going to see some massive changes in density in these communities. Certainly, municipalities are not going to have a lot of control over that," she said.

John Buker of the Rail for the Valley Campaign says the government isn't doing enough for outlying areas.

"What we see is megabucks for SkyTrain in Vancouver, but no light rail for the Valley. It's completely unfair.

"We're all B.C. taxpayers, but there's this double standard. Valley residents are expected to deal with constantly increasing traffic. We're asking for light rail from Vancouver to Chilliwack," he said.