School zones in hot demand
The Australian schools with the hottest catchment zones for property growth have been revealed in a new report.
Domain has released an Australian School Zone Report Card detailing the property price growth rates in government school catchment zones nationwide.
Domain senior economist Andrew Wilson said competing parents push prices up in catchment areas in an attempt to secure their child a place in a particular school.
“Agents tell us that sometimes houses on one side of the street can be sold for 10 per cent higher or more than their counterparts across the road, simply because they fall within the catchment zone of a highly sought-after government school,” Dr Wilson said.
The primary school catchment zone that experienced the highest rate of property price growth across Australia was Parramatta Public School, with a rise of 56.5 per cent in the year to April 2015 compared to the previous year.
When it came to high school catchment zones, Strathfield Girls High School experienced the highest rate of property price growth at 38.6 per cent.
New South Wales schools made up nine out of the top 10 growth rates for both primary school and high school catchments.
Also experiencing above 40 per cent price growth rates for primary school catchment zones were Ashbury Public School (46.6 per cent), Oatley Public School (44.9 per cent), Meadowbank Public School (43.1 per cent) and Epping Public School (41 per cent).
Following on came Glenfield Public School (38.1 per cent), Ryde Public School (35.9 per cent) and Balmain Public School (34.8 per cent).
Western Australia then makes an appearance at number nine with Bicton Primary School experiencing 34 per cent growth and NSW rounded out the list with Pagewood Public School on 33.3 per cent growth.
Following Strathfield Girls High School were Ryde Secondary College with 31 per cent growth, Quakers Hill High School (27.1 per cent), Blakehurst High School (25.7 per cent) and Cherrybrook Technology High School (24.1 per cent).
A Victorian school makes the list at number six with McKinnon Secondary College showing 22.9 per cent growth.
NSW then finishes the list with Epping Boys High School (22.9 per cent), Alexandria Park Community School (22.8 per cent), Castle Hill High School (22.1 per cent) and Model Farms High School (21.7 per cent).
Model Farms High School
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