The 10 Top School Zones That Own the Melbourne Property Market
The real estate industry has observed that education is influencing home buyers and property investors in greater Melbourne’s popular education catchment areas.
THE AGENCY is a professional real estate agency able to help clients find the best investment property possible, in a given area.
As a long-term consideration, education is an important factor to consider when choosing a suburb, since catchment zones can help identify future tenants and parents.
The quality of a school (or another neighborhood amenity) can greatly affect property values, and new data indicates that school catchment zones (the attendance area around a school) play a large role in determining property values.
Domain Group’s latest 2021 School Zones Report shows that while Melbourne’s property market has been going gangbusters this year, despite spending almost as much time in lockdown as not, house prices in some of Melbourne’s school zones have out-performed and skyrocketed by close to 40 percent over the past 12 months.
The report confirms that school zones can influence property prices.
House prices have risen in 83% of primary and 89% of secondary school zones, suggesting that household budgets are being stretched.
The top-rated school catchment zones are spread across inner, middle, and outer suburbs and across a variety of different price points, but a number (the highest rated) favor the lifestyle location of Mornington Peninsula.
Neighboring school zones showed varying levels of house price growth.
According to a study by Domain Group, house prices in the Brighton Primary School zone increased by 11% annually over the past five years. In comparison, neighboring school zone Elsternwick Primary School saw house prices drop 15% over the same time period.
Over the past 12 months, house price growth in most primary and secondary school zones analyzed exceeded that of their surrounding suburbs, with most seeing up to 10% greater growth.
In roughly 10% of school zones, house prices grew 10–20% above the suburb’s growth.
The top 10 Melbourne primary schools:
THE AGENCY has a wealth of experience in real estate, and it creates trust in the community. Your education is an important long-term consideration, and whether you are planning a family or have children already enrolled in school, THE AGENCY agents can help you find the best suburbs for a family home or investors looking to attract long-term quality tenants.
We hope you enjoyed our article about the top ten school zones in Melbourne. We are always excited when one of our posts is able to provide useful information on a topic like this.