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House prices in popular school zones soar as much as 46%

House prices in some of Australia’s more popular school catchment areas have soared by as much as 46% over the past 12 months.

 

Parents are paying a premium for homes in locations that make their children eligible for enrolment in high-performing or popular government schools according to the 2021 School Zone Report by Domain Group.

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 percent 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.”

Demand in these school zone hotspots have skyrocketed as both property buyers and investors look to take advantage of climbing property prices in sought-after areas.

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Jason Gwerder
Friday, 1 October 2021


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