Top school zone property prices outpace capital city growth

The cost of buying a house in a coveted school zone in each of the capital cities has increased by up to 60 per cent over the past three years as supply shortages fuel fierce competition between families.

Anna Hogan, a research fellow at the School of Teacher Education and Leadership at Queensland University of Technology, says: “There is a lot of choice and competition between public and “Being close to a prestigious school is the number one key driver of property prices in this area,” says Phil Orr, principal of OrrCo, an upper north shore agency targeting properties in Pymble, where prices have increased by 36 per cent over the past 12 months and 52 per cent over three years.

Most schools in those prime postcodes are private, rather than government, which reduces pressure from parents seeking to move into a catchment area for a top government school, Phoebe Blamey, director of Clover Financial Solutions, says. Prices in the catchment area around Glen Waverley Secondary School have jumped about 24 per cent over three years.Some top-performing school zone suburbs in Perth have generated median price growth of nearly 30 per cent over the past three years. This compares to 19 per cent for the rest of the city.

“There are a lot of people who want to buy in a quality school catchment,” Bailey says, and Corinda has popular private schools and easy access to Brisbane Boys’ College.Sought-after inner suburbs such as Sandy Bay have been posting gains of more than 34 per cent over the past three years.

And the class system of privilege gets stronger and stronger in Australia.

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