- September 1, 2014
- Posted by: admin
- Category: Finance News, Financial goals, First Home Buyer, Investment Property, Rental Property
As our lives become busier and our roads more congested, many buyers are prepared to pay a premium to be within walking distance of transport, shops and amenities.
Homes located in ‘walkable’ suburbs – those with a mix of common daily shopping and social destinations within a short distance – are reported to command a price premium over otherwise similar homes in less walkable areas.
Now Australian cities have been ranked by walkscore.com, a popular US website that measures walkability on a scale from 0 – 100 based on walking routes to destinations such as supermarkets, schools, parks, restaurants and retail.
With a ‘walk score’ of 62, Sydney comes out on top in the ranking of the most walkable Australian cities and suburbs. Melbourne rates a walk score of 56, Adelaide comes in at 53, Brisbane scores 51, Perth scores 50 and Canberra scores 39.
Australia’s walking culture is thought to have begun with the Olympics when people got used to leaving the car at home. Now walkability is believed to add value to residential property just as additional square footage, bedrooms, bathrooms and other amenities do.
Being within walking distance of amenities is not just convenient; it has health and environmental benefits. With today’s focus on green living and urban efficiency, being able to ditch the car and use your feet are important considerations when buying your next home or investment property.