Suburbs near top schools are growing exponentially
Written on the 3 September 2017 by James Cagney
(A three minute read)
Recent articles from The Real Estate Conversation has shown what I have been advocating over the last few months that suburbs in Melbourne and Sydney close to good public and private schools are enjoying the highest capital growth and rentals :
An article in The Economy reports:
The capital growth of properties in catchments zones for Australia's top public schools is increasing at up to five times the city average according to Domain's Annual School Zones Report. With the beginning of the school year underway, Domain has looked at how school catchment zones affect property prices.
Domain's chief data scientist, Dr Nicola Powell, said property price growth near top schools was significantly higher than the average growth rate of the city. "Nationally, the top 10 growth rates around particular schools were up between 18-41 per cent in 2016," she said."To put this into perspective, in the same period, Sydney house price growth was around 1.5 per cent, and Melbourne, around 7.3 per cent."
For more information The capital growth of properties in catchments zones for Australia's top public schools is increasing at up to five times the city average according to Domain's Annual School Zones Report.
With the beginning of the school year underway, Domain has looked at how school catchment zones affect property prices.
Domain's chief data scientist, Dr Nicola Powell, said property price growth near top schools was significantly higher than the average growth rate of the city.
Domain's property app classifies properties according to which of the 4000 school catchment zones they fall in, a tool that has proved to be hugely popular for families searching for homes near desirable schools.
The figures Domain used were based on the prices for properties sold between November 2015 to October 2016.
To find out more about schools Nationally, visit the Domain School Zones Report at:
Victorian schools dominated the national top 10 lists report.from this article published in the The Economy on Feb 7, 2017 go to:
Real Estate Institute of Victoria (REIV) data shows that homes close to popular schools can sometimes be worth hundreds of thousands more.
In the year to June 30, the largest price difference was recorded for homes located within the catchment area for South Yarra Primary School. Homes within the zone had a median price of $2 million while homes within a one kilometer radius of the school zone had a median of $1,435,000 a difference of $565,000.
Homes in the Fitzroy Primary School zone also achieved higher prices than those just outside the catchment area. The median house price for homes within the zone was $1.6 million while those bordering the zone fetched $300,000 less.
At a secondary school level, homes zoned for McKinnon High School recorded the largest price difference compared to those bordering the catchment area. The median house price for homes within the zone is $1,637,500 compared to a median of $1,390,000 for homes in the same suburb but outside the school zone.
For more information on the suburbs with exceptional growth in Melbourne go to the Real Estate Conversation article at:
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This is not financial advice. You should not act solely on the basis of the material contained in this article for your investment strategies. Changes in government and legislation occur frequently and without prior notice and financial markets are unpredictable.
This information was written and compiled by James Cagney. The opinions expressed herein do not necessarily represent the views and opinions of his associates including
Thank you to the resources of Terry Ryder, Property Observer, The ABS, BIS Shrapnel, Michael Matusik, Property Monitors, AHURI, Colliers, On the House, Corelogic, RP Data, Residex, SQM, Herron Todd White, NAB Residential Property Survey, BIS Oxford Economics, Australian Bureau of Statistics, Peter Wargent, Port Phillip Publishing, Economy & Markets, Harry S. Dent and the many others for the material discussed above.
Author: James Cagney