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Top 10 Melbourne school zones for house price growth - featured image
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Top 10 Melbourne school zones for house price growth

Education influences home buyers and property investors across a broad range of demographics and data shows that it is now influencing property prices in greater Melbourne’s popular education catchments. School Melbourne

Education is a long-term consideration and, whether you are planning a family, have children already enrolled in school, or are an investor looking to attract long term, quality tenants, it may be beneficial to consider school catchment zones when you are determining suburbs of interest.

A well-rated school can do wonders for property value, and recent data shows that school catchment zones can actually have a significant influence over how quickly property prices grow.

In fact, Domain Group’s latest 2021 School Zones Report shows that while Melbourne's property market has been going gangbusters this year, despite spending almost as much time in lockdown as not, house prices in some Melbourne's school zones have outperformed and skyrocketed by close than 40 per cent over the past 12 months as fierce competition to get into preferred school catchment areas continues to drive property price growth.

The report confirmed how public school zones can influence property decisions and impact house price movement.

In Melbourne, secondary schools appear to have a slightly bigger impact.

This trend has reversed compared to last year, suggesting at a time of escalating house prices, household budgets have become stretched.

Group Of Multiethnic High School Classmates Walkin 2

In Melbourne house prices have risen across most school zones analysed, up in 83% of primary and 89% of secondary schools, aligning with the rising property market.

While the top school catchment zones were spread across inner, middle and outer suburbs and across a variety of different price points, a number that topped the list favoured the lifestyle location of Mornington Peninsula.

House price growth varied between neighbouring school zones.

Interestingly house prices in Brighton Primary School zone increased 11% annually, while the neighbouring school zone of Elsternwick Primary School dropped 15%.

Annual house price growth in 48% of the primary and 52% of secondary school zones analysed surpassed the respective suburb price growth, with most seeing up to 10% more growth compared to the suburb they are located in.

Roughly one-in-ten school zones had 10-20% additional house price growth over the suburb's growth.

Here’s the list for top 10 Melbourne secondary schools catchment areas:

school name median yoy
1 Diamond Valley College $990,000
+33.2%
View CatchmentsView
2 St Helena Secondary College $1,077,500
+25.5%
View CatchmentsView
3 Edgars Creek Secondary College $595,000
+25.3%
View CatchmentsView
4 Werribee Secondary College $587,000
+24.9%
View CatchmentsView
5 Mount Erin Secondary College $787,500
+23.0%
View CatchmentsView
6 Craigieburn Secondary College $615,000
+22.9%
View CatchmentsView
7 Cranbourne East Secondary College $600,000
+22.7%
View CatchmentsView
8 Beaumaris Secondary College $1,765,000
+21.7%
View CatchmentsView
9 Roxburgh College $614,500
+19.3%
View CatchmentsView
10 Epping Secondary College $595,000
+19.0%
View CatchmentsView
Source: Domain

Here’s the list for top 10 Melbourne primary school catchment areas:

school name median yoy
1 Richmond Primary School $1,842,500
+39.6%
View CatchmentsView
2 Heidelberg Primary School $1,510,000
+36.7%
View CatchmentsView
3 Valkstone Primary School $1,726,000
+35.4%
View CatchmentsView
4 Glen Waverley Primary School $1,881,944
+33.0%
View CatchmentsView
5 Surrey Hills Primary School $2,040,000
+29.9%
View CatchmentsView
6 Pakenham Lakeside Primary School $626,500
+29.2%
View CatchmentsView
7 Clayton South Primary School $978,100
+26.9%
View CatchmentsView
8 Williamstown North Primary School $1,525,000
+26.8%
View CatchmentsView
9 Preston Primary School $1,100,000
+25.7%
View CatchmentsView
10 Cheltenham Primary School $1,196,000
+25.6%
View CatchmentsView
Source: Domain

 

About Kate Forbes is the National Director of Property Strategy at Metropole. She has 22 years of investment experience in financial markets on two continents, is qualified in multiple disciplines, and is also a Chartered Financial Analyst (CFA).
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