How walkable is your suburb?

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.

Current Market Conditions - Premium Broker's Perspective

The Reserve Bank has cut interest rates, fixed rates are dropping, rental returns are increasing and the supply of quality properties on the market are very low. This means that home affordability is up and quality properties are being snapped up very quickly. In our opinion there is no doubt that the property market is up, maybe by as much as 10%.

RP Data Market Indicators show that Sydney auction clearance rates are now around 75% up from 50% a year ago. New listings are down 12.7% from a year ago and the average time a property is on the market is down to 35 days.

Many economists have predicted that it was Sydney's time for some capital growth and it appears to be happening right now.

What to do if you are looking for property now.

RESEARCH

Does as much research as you can - Ask us for some Free RP Data Reports, attend as many open houses and auctions as you can.

PRE-APPROVAL

Make sure you have a pre-approval so you can jump on a property as soon as you can. You need to be more prepared than those other buyers in the market.

CONSIDER A PRE-AUCTION BID

Most vendors will consider an offer prior to auction. It saves them time an money. Don't be afraid of making an offer prior to auction . . . . just make sure you have an approval and the contracts are checked by your conveyancer or solicitor.

UPFRONT VALUATION

If you need act quickly, then Premium Broker can help with obtaining an Upfront Valuation. We have access to a number of lenders who allow us to order the Valuation upfront. This can save days that can be critical to obtaining your dream house . . . . . . before someone else does.