Like many other major Australian cities, many parents and savvy investors have crowded the Brisbane property market looking for some of the topmost sought-after school zones.
Demand in these school zone hotspots has skyrocketed as both property buyers and investors look to take advantage of the new property wave sweeping Brisbane pushing up property prices.
In fact, being located in a school catchment area can make a huge difference to a property’s value, with some people willing to pay a significant premium to be located within some primary and secondary school zones.
According to Domain Group’s latest 2021 School Zones Report, house prices in some Brisbane school catchment areas have jumped by over 40 per cent over the past 12 months, suggesting education is worth as much as a big pool and river views.
The huge price hike comes amid a market where there is fierce buyer competition in the city’s key family hotspots as both home buyers and investors look for properties with access to certain primary and secondary schools.
Domain’s chief of research Nicola Powell said the pandemic had helped supercharge school catchment prices with flexible working allowing young families to relocate 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 per cent more than the suburb they are located in,” Powell said.
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.
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.”
Dr. Powell explains that the boundary of a public school catchment is often a critical factor when it comes to purchasing a family home.
In Brisbane, secondary school catchments appear to have a more positive impact on house price growth compared to primary school catchments.
The Domain School Zones Report explains that…
- House prices have risen across most school catchments analysed, up in 92% of primary and all secondary schools, aligning with the rising property market and increased popularity from interstate-movers.
- While the top school catchments were dotted across Greater Brisbane suburbs and a variety of different price points, affordable outer locations dominated the list.
- House price growth varied between neighbouring school zones. House prices in Tullawong State High School catchment jumped 21% annually, while the neighbouring school catchment of Caboolture State High School increased at a fraction of this rate, at 6%.
- A larger proportion of secondary school catchments outpaced the respective suburbs’ performance, at 56% compared to 54% of primary schools.
- One-third of school catchments had up to 10% additional annual growth above the respective suburb location. Roughly 15% had 10-20% additional house price growth over the suburb growth.
Here’s the list of the top 10 Brisbane primary schools catchment areas:
Here’s the list of the top 10 Brisbane Secondary schools catchment areas:
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