- Strong performing catchment zones are spread across inner, middle and outer suburbs
- Melbourne's Kunyung Primary school has seen +45.7% growth within zone
- Sydney's Barrenjoey High School recorded +45% growth
With house prices continuing to rise nationally, the premium for buying into areas with good schools has risen at an even stronger rate, according to an analysis from Domain.
The top ten school catchment zones nationally recorded at least a +38% rise over the past year.
These zones ranged across inner, middle and outer suburban areas, especially lifestyle locations near coastal areas or national parks.
Kunyung Primary School, in the southern Melbourne seaside suburb of Mount Eliza, has taken the top spot for primary school price growth at +45.7%. The suburb itself has seen a +32.5% price rise.
Barrenjoey High School, located in the northern Sydney suburb of Avalon Beach, has seen the median house price within the school zone rise from $1,932,500 to $2,802,500 this year – a +45% increase. Avalon Beach itself witnessed a +30.1% rise.
“It’s astonishing to see that starting on a high base of house prices, some school catchment zones are achieving 10 to 20% more than the suburb they are located in,” commented Domain’s Chief of Research and Economics, Dr Nicola Powell.
“It shows that Australians are prepared to pay for easy access to public schools.”
House prices in 88% of primary school catchment zones and 94% of secondary school catchment zones have increased annually.
Across the combined capitals, 46% of school catchment zones had an equal impact on house prices by outperforming the suburb the school is located in.
In Sydney, secondary school catchment zones had a greater impact on house prices compared to primary school catchment zones – a reversal of the trend compared to last year
“(This indicates) private school fees have weighed on household budgets at a time of escalating house prices, weak wages growth and economic uncertainty of the past year,” said Dr Powell.
The same also occurred in Melbourne, while in Adelaide primary schools dominate the list.
In Brisbane, mostly primary school catchment zones in affordable outer locations dominated the list, while Perth is a mixed bag with Eastern Hills Senior High School in the outer suburb of Mount Helena recording a +41.8% rise in its median school zone price, with the remaining suburbs located much closer to the city.
“We know that as part of the property decision-making process, parents and investors consider the geographical location of a potential property in relation to a school catchment zone,” explained Dr Powell.
“When people are looking for a home, they’re looking for a lifestyle, and education is a big part of that picture, be it in the inner-city suburbs or the coastal regions of Australia.”
“Due to a shift in lifestyle such as flexible working and ongoing Covid impacts, people are spending more time at home and desire properties that have easy access to beaches and parks. House price growth is evident in school catchment zones close to natural environments, making them ideal for families to live in.”
