Whether you’re a property buyer or investor, proximity to certain school zones should be a major consideration when buying your next home.
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 Sydney’s property market has been going gangbusters this year, house prices in some of Sydney’s school zones have outperformed and skyrocketed by more 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.
Annual house price growth in 40% of the primary and 41% of secondary school zones analysed surpassed the respective suburb price growth, with almost one-third of school zones seeing up to 10% more growth compared to the suburb they are located in.
House prices in Burraneer Bay Public School catchment zones grew ten times faster than the suburb it is located in (Cronulla).
Proportionately more secondary school catchment zones had positive house price growth and more outpacing the respective suburb house price growth.
House prices have risen across most school catchment zones analysed, with 89% of primary and 95% of secondary schools increasing annually, aligning with the rising property market.
While the top school catchment zones were spread across inner, middle, and outer suburbs, many that topped the list favoured lifestyle locations, spanning coastal suburbs or near to national parks.
House price growth varied between neighbouring school zones. House prices in Balgowlah Heights Public School catchment zone jumped 33% annually, while the neighbouring school zone of Manly West Public School dropped 7.9%.
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 Sydney, secondary school catchments appear to have a more positive impact on house price growth compared to primary school catchments.
Which catchment areas come out on top for Sydney?
Here’s the list of top 10 Sydney high schools catchment areas:
Here’s the list of top 10 Sydney primary school catchment areas:
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