School catchment zones: how do they affect your investment?
Figures released by Domain in their 2015 school zone report, suggest that property prices for homes within school catchment zones have increased significantly over the past year. Although the report shows Sydney prices rose by more than 50 percent recently in Parramatta and Harris Park in Sydney’s west, is purchasing an investment near a school zone helping or hindering the value of the property?
Whether a homeowner or a tenant, parents will tell you that it pays to live in the right school catchment zone. Not only will the catchment mean children are eligible to attend the school, it ultimately provides strong capital growth for the property, making it a fantastic strategic move for investors. Many investors have begun to purchase property near the top performing catchment zones to maximise their return.
Top 10 primary school catchment zones with highest price growth – national
- Parramatta Public School – local prices up 56.6%
- Ashbury Public School – local prices up 46.6%
- Oatley Public School – local prices up 44.9%
- Meadowbank Public School – local prices up 43.1%
- Epping Public School – local prices up 41%
- Glenfield Public School – local prices up 38.1%
- Ryde Public School – local prices up 35.9%
- Balmain Public School – local prices up 34.8%
- Bicton Primary School (WA) – local prices up 34%
- Pagewood Public School – local prices up 33.3%
Top 10 high school catchment zones with highest price growth – national
- Strathfield Girls High School – local prices up 38.6%
- Ryde Secondary College – local prices up 31%
- Quakers Hill High School – local prices up 27.1%
- Blakehurst High School – local prices up 25.7%
- Cherrybrook Technology High School – local prices up 24.1%
- McKinnon Secondary College (VIC) – local prices up 22.9%
- Epping Boys High School – local prices up 22.9%
- Alexandria Park Community School – local prices up 22.8%
- Castle Hill High School – local prices up 22.1%
- Model Farms High School – local prices up 21.7%
Source: Domain, 2015, http://domain-static.s3.amazonaws.com/pdf/Domain-School-Zones-capital-cities-July-2015.pdf
Like any property purchase, it is important to do adequate research and ensure the figures stack up before making any decisions. If you’re looking at a property on the boundary of a catchment, it’s essential to be certain of the catchment it is allocated to. It wouldn’t be unusual for different sides of the street to be allocated to different catchments. You can now access a Domain mobile app which will identify the correct catchment zone for your dedicated school.
Contact CPS Property today to discuss your investment options.
