Do you know about this website that allows you to see your Suburb’s Walk Score?
It is a bit of fun but also helpful when you are looking into an area to move to or buy an investment property.
The US based WALK SCORE® website now allocates a score to every suburb in Australia.
A high score simply means the suburb is more convenient.
100/100 = Perfectly convenient
0/100 = Antarctica
Don’t be fooled by the name. The WALK SCORE® is about overall convenience, not just walkability.
Interestingly, Sydney came out with the best WALK SCORE® when compared to our other large Australian cities. I suspect this is because it is faster to walk that drive in Sydney : )
Recent overseas studies indicate that properties with above-average levels of walkability command a premium over homes with average levels of walkability. Studies have also confirmed that high walkability scores can often correlate with relatively high yields and low tenancy vacancy rates. In the United States, for example, an additional one point increase in a WALK SCORE® is associated with a potential $3,000 increase in property value.
Have a try for yourself. This system is as easy as typing in your suburb and clicking GO.
Let me know what you think.
Remember if you have any questions about how to get into the property market contact me Kim Wight Mortgage Broker Sydney on 0412167551 or email Kwight@smartline.com.au