Popular school zones coincide with soaring house prices

author-avatar By on September 23, 2021
Popular school zones coincide with soaring house prices

Popular school districts across Australia have recorded house prices rising by almost double digits, according to Domain's latest report.

House prices have soared in school catchments across the country, according to Domain's 2021 School Zones Report.

The report has been dubbed 'compelling', showcasing how both primary and secondary school catchments saw house prices skyrocket.

This demonstrates how buyers are prioritising schools as a key factor in their decisions, according to Domain senior research analyst Dr Nicola Powell.

"In the top 10 school catchments, there’s a variety of different price points but let’s be honest, it does not matter what price-point you’re purchasing at, you place a priority on education because we all want our kids to go to the best school," Dr Powell said.

It's known that house prices affect school catchments in some way, but Domain's report revealed some prices have risen an 'eye-watering' amount.

Top 10 primary schools

According to Domain's latest report, these were the top 10 primary schools that saw the biggest house price growth in its neighbouring school catchments.

School name State Median house price Year-on-year growth
Burraneer Bay Public School NSW $2,100,000 44.8%
Newport Public School NSW $2,675,000 43%
West End State School QLD $1,325,000 41.7%
Woy Woy Public School
NSW $870,000 41.5%
Richmond Primary School
VIC $1,842,500 39.6%
Kimberley Park State School
QLD $620,000 38.2%
Kellyville Ridge Public School
NSW $1,377,500 37.8%
Harbord Public School
NSW $3,050,000 37.6%
Kincumber Public School
NSW $912,500 36.9%
Heidelberg Primary School VIC $1,510,000 36.7%

Source: Domain

Top 10 secondary schools

Domain's report also revealed the top 10 secondary school zones with the largest house price growth.

School name State Median house price Year-on-year growth
Barrenjoey High School NSW $2,802,500 45%
Eastern Hills Senior High School WA $602,500 41.8%
Cronulla High School NSW $2,030,000 40%
Kiara College WA $417,500 39.2%
Kogarah High School NSW $1,300,000 38.4%
Kincumber High School NSW $1,175,000 38.2%
Woolooware High School NSW $1,610,000 34.2%
Mosman High School NSW $4,000,000 33.3%
Diamond Valley College VIC $990,000 33.2%
Bayview Secondary College TAS $447,500 32.6%

Source: Domain

How house prices have risen across the country

Domain's report highlighted the specific house price increases in both primary and secondary school districts across all Australian capital cities.

The report revealed that school zones have varying influence on house price movement, but that primary and secondary schools influence the relative house prices in the area.

On average, house prices in primary school zones increased by 37% across the capital cities.

Specifically, these were the results for the top primary school zones in each city:

  • Sydney: 44.8%
  • Melbourne: 39.6%
  • Brisbane: 41.7%
  • Adelaide: 32.8%
  • Canberra: 33.8%
  • Perth: 33.9%
  • Hobart: 35%
  • Darwin: 34.4%

Additionally, house prices jumped by an average of 32.6% across these capital cities in secondary school districts:

  • Sydney: 45%
  • Melbourne: 33.2%
  • Brisbane: 31.5%
  • Adelaide: 21.8%
  • Canberra: 22.9%
  • Perth: 41.8%
  • Hobart: 32.6%
  • Darwin: 32.6%

Advertisement

Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Lender
Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval
VariableMore details
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
VariableMore details
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
VariableMore details
REFINANCE IN MINUTES, NOT WEEKS

Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)

  • Refinance only. Fast online application
  • No Nano fees. Free 100% offset sub account
  • Mobile app, Visa debit card & instant payments
REFINANCE IN MINUTES, NOT WEEKS

Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)

  • Refinance only. Fast online application
  • No Nano fees. Free 100% offset sub account
  • Mobile app, Visa debit card & instant payments
VariableMore details
YOU COULD WIN $100k TO PAY DOWN YOUR LOAN*

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • For a chance to win $100K towards your home loan, apply with Athena before Oct 31 & be approved by Dec 15
  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
YOU COULD WIN $100k TO PAY DOWN YOUR LOAN*

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • For a chance to win $100K towards your home loan, apply with Athena before Oct 31 & be approved by Dec 15
  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
VariableMore details
AN EASY ONLINE APPLICATION

Yard Home Loan (Principal and Interest) (Special) (LVR < 70%)

  • Unlimited additional repayments
  • Unlimited free redraws
  • Optional 100% offset can be added for $120 p.a.^
AN EASY ONLINE APPLICATION

Yard Home Loan (Principal and Interest) (Special) (LVR < 70%)

  • Unlimited additional repayments
  • Unlimited free redraws
  • Optional 100% offset can be added for $120 p.a.^

Rates correct as of October 23, 2021. View disclaimer.


Image by Element5 Digital on Unsplash

Disclaimers

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered which includes retail products from at least the big four banks, the top 10 customer-owned institutions and Australia’s larger non-banks:

  • The big four banks are: ANZ, CBA, NAB and Westpac
  • The top 10 customer-owned Institutions are the ten largest mutual banks, credit unions and building societies in Australia, ranked by assets under management in November 2020. They are (in descending order): Great Southern Bank, Newcastle Permanent, Heritage Bank, Peoples’ Choice Credit Union, Teachers Mutual Bank, Greater Bank, IMB Bank, Beyond Bank, Bank Australia and P&N Bank.
  • The larger non-bank lenders are those who (in 2020) has more than $9 billion in Australian funded loans and advances. These groups are: Resimac, Pepper, Liberty and Firstmac.
  • If you click on a product link and you are referred to a Product or Service Provider’s web page, it is highly likely that a commercial relationship exists between that Product or Service Provider and Savings.com.au

Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site.

In the interests of full disclosure, Savings.com.au, Performance Drive and Loans.com.au are part of the Firstmac Group. To read about how Savings.com.au manages potential conflicts of interest, along with how we get paid, please click through onto the web site links.

*Comparison rate is based on a loan of $150,000 over a term of 25 years. Please note the comparison rate only applies to the examples given. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees and costs savings, such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Latest Articles

author-avatar
Rachel is a Finance Journalist, and joined Savings in 2021. Coming from a background in the FinTech space, her interests include the innovation of lending technology, property, investing, and more. With a passion for educating and informing people about their finances, she hopes to increase the financial literacy of everyday Australians.

Be Savings smart.
Subscribe for free money newsletters.

By subscribing you agree to the Savings Privacy Policy