Everyone knows that location is vital in finding a property. That’s one aspect that no amount of renovations can change. What makes a good location though? How can you pick the spots that you, or your tenants will love to live?
A fundamental factor is lifestyle. Australians have become coffee connoisseurs, craft beer drinkers and gourmet diners. In increasingly dense cities, your local cafe or restaurant is where you meet friends and family.
Life in a vibrant lifestyle location is so much better than in a social wasteland, and property demand (and price growth) will follow.
Single Origin Roasters Cafe, Surry Hills. Photo: smudgeeats
Microburbs Lifestyle Score is the ranking that lets you easily sort and compare lifestyle quality in any place in Australia.
The Microburbs Lifestyle Score ranks an area or property between 1 to 10, with 1 being totally lifeless and 10 being a vibrant social hub.
Because lifestyle means different things in different areas, the Microburbs ranking takes into account all types of destinations.
In Surry Hills and Fitzroy, lifestyle means cafes and bars. At Bondi, or Eagle Bay in WA, it means beautiful coastline. In Northbridge, WA and Fortitude Valley, QLD, lifestyle is clubbing and nightlife.
Most of all, a high lifestyle rank means having a large number and wide variety of nearby options.
Microburbs founder, Luke Metcalfe says “A location offering a great lifestyle is so important to property seekers. People want a variety of dining options, quality coffee and inviting bars, all within walking distance.”
“To be considered in the Lifestyle ranking, places like bars, cafes and restaurants must be within 5 minutes walk. Beaches and pools are counted if they are within a 5 minute drive, or 30 minute walk.”
Rankings are done at a Microburb level, being small areas within suburbs with around 400 people. That’s important, because Australian suburbs can be quite large, and the lifestyle at one side of a suburb can be totally different to the other side.
The lifestyle panel on all Microburbs reports breaks down the data behind the score. It maps each place to go in the area, with travel time, directions and ratings.
