Premium school zones' impact on residential property prices

Date: 28 Feb 20

MEDIA RELEASE

Our analysis found that the price difference can be significant in suburbs that are located in zone for some of Melbourne’s schools; adding up to $425,000 to house prices when compared with the median price for houses outside those school catchments.

Access to education can add to home value just as well as an extra bedroom or garage in a house. Buying in new school catchments could be an important consideration especially in growing outer suburbs. Please note:

• Data referred to in this analysis is for all residential property sales over 2019
• This is NOT an exhaustive list of schools, only a selection of State Primary and Secondary schools in Melbourne have been considered
• Private schools have not been considered as the same zoning rules do not apply
• School zones are constantly reviewed depending on population growth and infrastructure. School zones can be found at www.findmyschool.vic.gov.au

REIV members can access the PowerPoint presentation by clicking here.

You can also check the related article by clicking here.