In-Demand School Zones Sending Property Prices North

It’s long been known that desirable school zones attract more buyers, this increased demand generally creates upward pressure on prices, as popular public schools generally require you to live within the gazetted school zone.

The latest report by Domain reveals that house prices have skyrocketed in some of Queensland’s state school catchment zones, with two Sunshine Coast suburbs making the top 10 list in the greater Brisbane area. Sunshine Beach Primary school was ranked 8th on the primary school list, and Sunshine Beach High School was ranked 1st on the secondary school list with price growth a staggering 19.1%. Coolum Beach State High School was also in the top 10, coming in at sixth place with 10.2% growth.

Clearly lifestyle factors also influence this price growth, as both mentioned suburbs boast stunning beaches and beautiful natural surrounds; however, that is not to discount the importance in the decision-making process of the buyer, that a school zone will have. Even buyers without school aged children, may consider this when purchasing, due to future resale value; and its certainly of interest to investors also.

Domain Group chief data scientist Nicola Powell said the boundaries of school catchment zones were often a “critical factor” in the property decision making process for parents, influencing where a child can be enrolled.

Ms Powell said while the data did not necessarily always correlate with the “best-performing” schools according to academic results, there was sometimes a relationship between high house price growth and catchment zones.

“While there’s many factors that can influence price growth in a certain area, we know from anecdotal feedback from both agents and parents that a desirable school zone can influence prices by up to 10 to 15 per cent,” she said.

Other areas of the Sunshine Coast with highly regarded public schools, including Mountain Creek, Brightwater, Chancellor College, Peregian Springs, and Palmwoods also attract strong demand from buyers wanting to live within the school zone.

 

By | 2017-05-09T12:19:01+00:00 May 9th, 2017|Real Estate News|Comments Off on In-Demand School Zones Sending Property Prices North