With fuel prices at record highs, inflation creeping up and interest rates also on the rise, household budgets are taking strain again, leading more homebuyers to look beyond the four walls of a property and consider what lies on their doorstep.
From established suburbs with lots of schools, local shops, restaurants and recreation venues, to lifestyle estates and the new mixed-use buildings and precincts now being developed all over SA, there is rising demand for homes within walking distance of everyday amenities.
The appeal is easy to understand. Being able to walk or cycle to the shops, their children’s schools, the gym, a favourite coffee shop or their office can save homeowners both money and time. Families may find they only need one car, for example, or maybe even no car, and that means savings on fuel and on maintenance, licensing and insurance which can reduce expenses by thousands of rands a year.
Time that used to be wasted on commuting can now be spent with family, friends and neighbours, while walking or cycling often for short, everyday journeys can build healthy physical activity into a normal routine and contribute to a better quality of life.
In addition, being situated in a walkable area can broaden a property's appeal when the times comes to sell or let it. While no location guarantees stronger capital growth, homes that offer convenient access to shops, schools, public transport, workplaces and leisure facilities in addition to good value, good security and good condition are increasingly hot property.
It’s important to understand that walkability does not necessarily mean living in a city centre or giving up space and security. For some buyers, the answer lies in a well-planned gated estate with on-site or nearby schools, shops, restaurants, sports facilities and other services. These communities can offer the convenience of having many daily needs close at hand, while retaining the privacy and security that are important to many SA homeowners.
Others may prefer an established suburb where amenities have developed naturally over time. Older neighbourhoods with local shopping centres, schools, parks, medical practices and restaurants within easy reach can offer a particularly attractive combination of mature surroundings and everyday convenience.
And for young professionals and empty nesters, modern mixed-use developments and urban precincts offer still another option. Places such as Melrose Arch in Johannesburg, Century City in Cape Town and Menlyn Maine in Pretoria bring residential, retail, office and leisure facilities together, making it possible to live, work and socialise within a relatively compact area. Apartment and townhouse living in these environments can also reduce the need for extensive private outdoor space and the associated maintenance.
Meanwhile, the growing interest in walkable areas aligns with the wider shift towards sustainable living, energy efficiency and homes with a smaller carbon footprint. Buyers are increasingly able to assess a property not only in terms of its purchase price and condition, but also its ongoing running costs, energy requirements and the convenience of its location.
A home with solar power, efficient appliances and good insulation will be cheaper to run and better for the environment, for example, but even more desirable if its location allows residents to leave the car at home more often.
Prospective buyers do, however, have to look beyond the marketing promise of walkability. They should assess the actual distance to amenities, the safety and quality of pedestrian routes, the availability of public transport and whether the specific facilities they need are accessible on foot. Security, maintenance costs, levies and the overall condition and value of the property still remain essential considerations, too.
Nevertheless, the ability to meet more everyday needs without getting behind the wheel is an increasingly important factor in where people choose to live. And if this trend gathers momentum, the facilities on offer in the surrounding area could become almost as important to buyers as the home itself.
