13 Aug The right school zones add value to homes – John McGrath
School catchment zones can add instant appeal to your property – so buying an investment property within one seems like a no-brainer.
This theory has the numbers to back itself up too.
In his recent column in Switzer, John McGrath explains some of the things you need to know about buying in a school catchment zone.
Here’s what he said:
Any family buyer will tell you that it really pays to live in the right school catchment zone – and now there’s research to prove it.
Being in the right catchment is not only important to ensure your child is eligible to attend the school you want, it can also positively impact the capital growth of your home over time.
School zones are a big selling point in many areas – in fact, the quality of the local schools can be the key reason for moving there.
This is definitely the case in areas such as Sydney’s Upper North Shore.
The region attracts families from all over Sydney due to its large selection of highly sought-after public and private schools.
Domain recently released some new research – called the 2015 School Zones Report Card, which looked at property price growth over the 12 months to April 2015, compared to the previous year, within government school catchment zones across Australia.
It found the strongest link between school zones and price growth in Sydney.
The national Top 10 comprises nine suburbs in Sydney for both primary and high school zones.
Check out the Top 10 below.
Top 10 primary school catchment zones with highest price growth – national
- Parramatta Public School – local prices up 56.6%
- Ashbury Public School – local prices up 46.6%
- Oatley Public School – local prices up 44.9%
- Meadowbank Public School – local prices up 43.1%
- Epping Public School – local prices up 41%
- Glenfield Public School – local prices up 38.1%
- Ryde Public School – local prices up 35.9%
- Balmain Public School – local prices up 34.8%
- Bicton Primary School (WA) – local prices up 34%
- Pagewood Public School – local prices up 33.3%
Top 10 high school catchment zones with highest price growth – national
- Strathfield Girls High School – local prices up 38.6%
- Ryde Secondary College – local prices up 31%
- Quakers Hill High School – local prices up 27.1%
- Blakehurst High School – local prices up 25.7%
- Cherrybrook Technology High School – local prices up 24.1%
- McKinnon Secondary College (VIC) – local prices up 22.9%
- Epping Boys High School – local prices up 22.9%
- Alexandria Park Community School – local prices up 22.8%
- Castle Hill High School – local prices up 22.1%
- Model Farms High School – local prices up 21.7%
I’ve got two really important tips for family buyers looking to purchase in specific catchment zones
- If you’re looking at a property on the boundary of a catchment, make absolutely sure it is within the catchment.
It is not uncommon for properties on one side of a street to be in one catchment zone and homes on the other side to be in another catchment.
The difference in sale prices can be 10% or more.
- Just because a property is close to a school doesn’t mean it is actually within the catchment zone. Always check!