Walking access to public transport, shops and jobs is adding a premium to real estate prices.
Melbourne home buyers are paying extra to live in suburbs with high ‘walkability’.
Speaking on 3AW Breakfast, Chief Executive of Victoria Walks, Ben Rossiter, is not surprised suburbs that have walking access to public transport, shops and jobs is adding up to a 25 per cent premium to Melbourne real estate prices.
‘Where you can do your daily errands without requiring a car, you have much higher property prices because people want to live there’, he said.
Mr Rossiter said the inner suburbs of Melbourne have a higher ‘walkability’ score compared to the Greater Melbourne region.
‘It’s really just the inner areas or those around public transport nodes?they’re much more walkable’.
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