School zones capture more family property buying interest - but be sure when paying the premium
Property website Domain.com.au have released a comprehensive survey of school zones.
It details the price growth rate of property within government school catchment zones across Australia.
Property sale price data has been compared against the corresponding school catchment zone the property sits within.
Parents need to realise when looking to enrol their children in a government school, that their property is within the boundaries of their chosen school’s catchment zone, Domain senior economist, Dr. Andrew Wilson said.
“Agents tell us that sometimes houses on one side of the street can be sold for 10% higher or more than their counterparts across the road, simply because they fall within the catchment zone of a highly sought after government school."
Just being close to a school does not guarantee that the property is within that school’s catchment zone, the report noted.
Primary school catchment zones with the highest rate of property price growth nationally (based on sale prices for properties sold in year to April 2015, compared to previous year):
High school catchment zones with the highest rate of property price growth nationally (based on sale prices for properties sold in year to April 2015, compared to previous year):
The Domain 2015 School Zones Report Card found that property prices in Sydney school catchment zones are experiencing the highest price growth out of all the capital cities, with nine out of ten of the primary school catchment zones experiencing the highest growth nationally in 2015 located in NSW, and nine out of ten of the highest growth high school catchment zones also in NSW.
Domain’s mobile apps allow parents to see which school catchment zone a listed property falls into, as well as a map of that school’s catchment zone and key information about the school(s).
