School zones are usually a place where we all slow down, but when it comes to house prices in school catchment areas some prices are soaring by 10 per cent than those just a few blocks away. For more, Domain Property Editor Alice Stolz explains what is happening and which schools have had the biggest impact on house prices.
House prices in school zones have been on the rise for some time now, and the trend is showing no signs of slowing down. In 2022, the biggest jump across Australia was in the Walloon State School zone, west of Brisbane where prices soared. Houses within public school catchment areas have vastly outperformed their respective suburbs in the past year, with values rising 10 times faster than most other areas.
So what’s behind this surge in house prices? It’s likely that the popularity of good schools is a big driver of house prices, as parents are willing to pay more for properties located within desirable school zones. This has been backed up by research which found that 83 percent of analysed school zones had seen an increase in house prices.
It’s not just parents who are benefiting from this trend either – investors are also taking advantage of rising house prices in school zones. With demand for properties near good schools continuing to grow, investors can expect to see a return on their investment over time.
Overall, it’s clear that there is a strong correlation between good schools and property prices – and it looks like this trend will continue into the foreseeable future.
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