- October 27, 2021
- Posted by: Rogers Property Group
- Categories: Brisbane Property Market, Latest News, Queensland Property News
The catchment area of a well-regarded school is a major driver of price in the property market and likely to become more so as private school fees rise. As a matter of fact, school catchment zones play an important factor in the property decision-making process for parents, as it influences where a child can go to school. If you have kids and planning to buy a property, it is important to consider which primary and secondary schools the property is zoned for. Recent report shows parents are paying a premium up to 20 per cent more than the average for homes in the catchments of highly-regarded schools. If you don’t have kids, it may still be worth your attention to look for properties in school catchment zones as it can affect the rent and purchase prices in the future. Homes near top-performing schools can command a premium over comparable properties outside the zone, and they might become a stronger rental proposition for investors too.
According to Domain’s annual School Zones Report, house prices in 88% of primary school catchment zones and 94% of secondary school catchment zones across combined capital cities in the country increased during the 12 months to July. On the other hand, 46 % of primary and secondary school catchment zones had an equal impact on house prices and outperformed the growth of the suburb they are in. Since the start of pandemic last year, property prices close to school have skyrocketed. Flexible work schedules also allow young families to move to suburbs with easy access to beaches, parks and schools.
“It’s astonishing to see that starting on a high base of house prices, one-in-10 school catchment zones are achieving 10 to 20% more than the suburb they are located in. It also shows that Australians are prepared to pay for access to public schools.” Dr. Nicola Powell said, a Senior Research Analyst of Domain. Whether people are looking for their first home or property to invest in, they’re considering the lifestyle and education in the area. In fact, Brisbane had the biggest percentage of secondary school catchment zones which outperformed the suburb they are in.
Brisbane school catchments annual house price growth