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If you are gearing up to sell property, why don't you go for a walk around the block and see what you find?
Australian Property Investor (API) revealed today (June 13) that in its upcoming issue it will reveal the 30 most-walkable suburbs in Australia.
Walkability is essentially an index of how easily one could do without a car when living in any given area. Are useful services and amenities within close walking distance or does one need to take a ten minute drive?
For anyone keen to save money on petrol, become a cleaner and greener Aussie or who enjoys the fresh air, the ability to reach the doctor, the supermarket or the library with a relaxing stroll could be a big attraction.
And getting buyers or tenants interested isn't the only reason property owners should consider beefing up this part of their property pitch. According to API editor Eynas Brodie, there could be material rewards down the line.
"There's been a lot of research in the US that shows one point of Walk Score is worth up to $3,000 in home value," said Ms Brodie.
"Another study of 15 American property markets found houses with above average levels of walkability command a premium over those with an average walkability."
API set about ranking Australian suburbs on a Walk Score index, by assigning them a score between 1 and 100, based on the distance from residential addresses to cinemas, parks, retail stores, restaurants and more.
Suburbs that earned a score of between 90 and 100 are described as a 'walkers paradise', while those scoring 70 to 89 are still rated as 'very walkable'.
A score from 50 to 69 earns the title of 'somewhat walkable', but anything less and you're looking at a suburb where you'll likely need a car to get around.
The results? Sydney turned out to be the most walkable city overall, with an average walk score of 63. Its top suburbs for walkability being Haymarket (99), The Rocks (98) and Surry Hills (97).
Melbourne was the second most walk-friendly city, with the outstanding suburbs there being Carlton (97), Fitzroy (96) and St Kilda (93).
Walkability is an important characteristic that a suburb can lend to properties within it. Although some buyers and renters will prize it more than others, it is nonetheless important not to neglect this, or any other, potential selling point.
Buyers may not know your suburb at all, so it is a good idea to take the lead and let them know just how perfectly placed they would be were they to become the property owner.
The bonus is that while talking up the great proximity of essential services and entertainment facilities, you can sell buyers even more on your suburb.
