Walkability and the potential for future growth

In real estate, they say, the top three considerations are “location, location and location,” but what does this mean? The perfect location is specific to each individual. Today, as many aim to be socially responsible and reduce their carbon footprint, it can mean driving as little as possible, if at all. As more and more people seek their own space in new areas, one thing that can help determine how much they may or may not have to drive is to look at the prospective property’s address on Walk Score™.

Walk Score is a private company that gives a score the walkability and drivability of locations based on their address, and is available in Canada, the United States and Australia. They have a website and app that make figuring out the relative convenience easy for consumers. A score of 90 – 100 is called a ‘walker’s paradise’ which means everything can be reached by foot within a few minutes. Unless you are in an urban core this is hard to find. A score of 70-89 is stated to be ‘very walkable’ meaning most daily errands can be reached by foot. A score of 50-69 is called ‘somewhat walkable’ and means there are some walkable amenities, but a car may be required for others. Scores under 50 are called ‘car dependent’ meaning a vehicle will be required for most if not all errands.

In today’s suburban neighbourhoods, any score of 70 or higher is very good, and shows the convenience of the neighbourhood. These neighbourhoods are transforming and will become more walkable with improved walk score ratings over time, as more and more amenities are built and come to fruition. Homes in these areas will only become more desirable in the long run and are a good investment as the neighbourhood continues to grow after purchase. Neighbourhoods in the 90 to 100 score range have reached or are close to reaching their full convenience potential already.

One of the great neighbourhoods to consider in the 70 to 89 score range is the new emerging area of ‘Uptown Surrey’ located between the Surrey City Centre and Guildford area, where the benefits of both neighbourhoods are easily reachable, and there is an eclectic mix of amenity offerings already nearby. Unison is a new condominium development that is now over 50 per cent sold, with more offerings coming to this neighbourhood already has a walk score of 70 and moving to up.

Other areas to consider that are up and coming, with walk scores sure to rise over the next 5 to 10 years, are South Surrey, in particular the Grandview neighbourhood, and Coquitlam’s Burquitlam/Lougheed neighbourhood, both with current walk scores of 49 to 50 but a lot of planned amenities yet to come to improve the value of your location over time. If budget is a factor, a good way to get into the market is to consider a neighbourhood that has not yet reached a higher convenience potential, but the plans for that neighbourhood show that it will. Hazelwood in South Surrey by Hungerford Properties is a master-planned townhome community designed for suburban families, and Dansey, by Belford Properties in Coquitlam is coming to market soon in the Burquitlam Lougheed area. Checkout these and other potential new home communities for every convenience need on our website at www.fifthave.ca.