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It has been displayed in the news recently about Transport Auckland’s plans to build the new city rail link in the CBD connecting with the western line at Mt Eden. While nothing has been set in concrete yet, the link below shows the proposed path, which includes 3 new stations at Aotea Square, K rd and Newton. 
Surely home owners and investors who own property in the immediate Mt Eden vicinity will see a huge rental spike from young professionals working in the middle city area, who prefer the ease of using the train, opposed to Parnell’s lack of infrastructure.
However I believe the biggest impact will be further up the line in Avondale, which is in prime position for capital growth. With a median house price of just $396 000 which is below Auckland’s median of $545 000 (3 months to May 2012, ENZ.org) it falls into the affordable bracket in an economy where most people are starting to believe home ownership will never be possible. 
The completion of the Waterview South Western motorway completion (2017) will tie in nicely with the intended completion of the City Rail Link, which will see Avondale situated smack bang in the middle of infrastructure heaven. Only 4 stops to Eden Park, less than half an hour by train to the CBD , easy motorway access -North, South, East and West – means ease of access to CBD and the airport. Lynn Mall is only 10 minutes one way or St Lukes 10 mins the other way. 10 Minutes to Pt Chev beach and even Piha is within an easy driving distance for an early morning’s surf. Its industrial area provides plenty of jobs for those not willing to commute to the city and has reputable schools across all ranges.
What’s more Avondale neighbours suburbs such as Mt Albert ($639 000) a “leafy suburb” with character bungalows and villas. Pt Chev/ Western Springs ($710 000) with its beaches, cafes, MOTAT, Zoo, speedway and reserves. Waterview ($468 000) with Unitec and transport hub. New Windsor ($485 000) 
As always keep your eyes out for houses on wide tree lined streets, with nice houses set back from the road on larger pieces of land, within 2km of the train station.