Why it pays to buy in a 20-minute neighbourhood

R&F Property Australia’s luxury offering, Prospect, is located in the prime location of Box Hill.

Better known for being a melting pot of vibrant cultures and hosting some of the finest schools, shopping centres and medical facilities, many people aren’t aware that Box Hill is one of Melbourne’s prestigious 20-minute neighbourhoods.

If you’re wondering what that means and how it can benefit buyers who purchase within one, keep on reading.

What is a 20-minute neighbourhood?
20-minute neighbourhoods are part of the Victorian Government’s Plan Melbourne 2017-2050 strategy. The 20-minute neighbourhood is about turning the phrase ‘living locally’ into a reality – meaning residents who live in one of these suburbs can access their daily needs within a 20-minute return walk home.

Other characteristics of a 20-minute neighbourhood include:
– Access to safe cycling networks and local transport options
– Well connected to public transport, jobs and services within the region
– Walkability
– Housing diversity
– Ability to age in place
– Affordable housing options
– Safe streets and spaces
– Sport and recreational facilities
– Community gardens
– Green streets and spaces
– Local playgrounds and parks
– Lifelong learning opportunities
– Local schools
– Local shopping centres
– Local health facilities and services

Essentially, this means that if you purchase within Box Hill, you’re likely to be 800m (or approximately a 20-minute or less walk) away from the daily services you need.

What’s beneficial about purchasing within a 20-minute suburb?
There’s plenty of lifestyle perks when you choose to live in a 20-minute suburb. With everything you need daily located so close to your home, you’ll never have to worry about commuting long distances for necessities such as groceries, medication, education, employment and more. Additionally, since everything is in close proximity to your place of residence, you can opt to walk or cycle instead of using a car – saving you money, reducing your carbon footprint and improving your overall wellbeing. For those purchasing an investment property in a 20-minute suburb, the benefits are further amplified. Tenants – particularly those who don’t own a car – are often looking to rent in locations that are highly walkable and are willing to pay that little bit extra to ensure their rental is in a safe, connected suburb.

Why Prospect?
Whether you’re buying one of our luxury apartments for yourself or as an investment, you’ll be sure to reap the tangible values of purchasing property in the 20-minute suburb of Box Hill. With everything you need (and want) at your fingertips, it makes sense to invest in the suburb’s most premium community.
Prospect was built to cater for the post-pandemic lifestyle. Aside from its convenient and premium location, residents have the luxury of being able to work, rest and play all under the one roof. With plans for retail shops and a café on the ground-floor of the building, living at Prospect means you can shop or grab a coffee without physically leaving the building. There are also plans for a coworking space at the podium level that will provide residents with a quiet, convenient place to work or study essentially on their doorstep, a wellness club that comprises of a swimming pool and a gym, and other contemplative spaces and lounge.

Buy now, move in by late 2022 when you purchase a luxury apartment at Prospect. To view our remaining apartments for sale, click here.