Australian families continue to pay a premium to live in their dream school catchment zones, with one catchment in Western Australia seeing home values soar 35.6 per cent in just one year.
Domain’s annual school catchment zones report revealed the five school catchments across Australia where values grew more than 30 per cent year on year.
Along with Western Australia’s Como Primary School catchment zone, the Dudley Park Primary School catchment zone in Western Australia saw prices jump 30.8 per cent.
It comes after Perth’s combined dwelling values grew 0.6 per cent over October, but didn’t shift at all in value over the course of the year.
In fact, all of Domain’s fastest-growing school zones significantly outstrip capital city price growth.
For secondary schools, Western Australia’s Armadale Senior High School’s catchment zone saw values rise 32.7 per cent in price.
In NSW, homes in Epping Boys High School’s catchment zone grew 32.3 per cent in value, while homes in the Colo High School catchment area grew 31.9 per cent in value year on year.
Australia’s top 10 primary school zones for house price growth
Australia’s top 10 high school zones for house price growth
Domain senior research analyst Nicola Powell noted that the price jumps were recorded in both affordable and expensive markets, saying catchments are a “fundamental driver” for purchasing decisions due to the importance of education.
“It doesn’t matter what price point [buyers are shopping at], they place equal importance on education, and that’s what this report highlights.”
A 2017 study from the University of Melbourne found that school catchment zones can have a huge impact on property values. It found that the release of positive news about schools – such as a good reputation or strong test results – can lead to house price increases of 3.6 per cent.
Domain also examined school catchment zones by capital city, with each city having several school catchment zones where values soared into double-digit growth.
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