Education influences investors across a broad range of demographics and data shows that it is now influencing property prices in greater Melbourne’s popular education catchments.
Education is a long-term consideration and, whether you are planning a family, have children already enrolled in school, or are an investor looking to attract long term, quality tenants, it may be beneficial to consider school catchment zones when you are determining suburbs of interest.
Domain’s 2016 School Zones Report overlaid property market data with school catchment zones, which demonstrated a significant trend in property market growth.
Glen Huntly Primary School catchment in Melbourne’s south-east saw an incredible 41.3% year-on-year growth (YOY) for property sales between 2015 and 2016, while Glenferrie Primary School (located in Hawthorn) catchment and Kerrimuir Primary School (located in Box Hill North) catchment saw a 35% and 34.4% increase respectively.
It is interesting to note that all three of these schools performed above average for National Assessment Program — Literacy and Numeracy (NAPLAN) in all assessment areas and across all grades for 2016.
There is a similar story for greater Melbourne’s secondary schools, with Charles La Trobe Secondary College (in MacLeod West) catchment achieving YOY growth of 31.9% between 2015 and 2016. University High School (in Parkville) catchment and Elwood College (in Elwood) catchments to the north and south of the city saw a 23.7% and 22.6% increase respectively.
The top growth primary school zones for greater Melbourne and YOY percentage growth are as follows:
- Glen Huntly Primary School — 43%
- Glenferrie Primary School — 35.0%
- Kerrimuir Primary School — 34.4%
- Albion Primary School — 29.4%
- Cockatoo Primary School — 28.2%
- Brunswick South Primary School — 27.2%
- Hurstbridge Primary School — 26.2%
- Brunswick South West Primary School — 25.0%
- Coburg Primary School — 21.9%
- Preston West Primary School — 21.9%.
The top growth secondary school zones for greater Melbourne and YOY percentage growth are as follows:
- Charles La Trobe Secondary College — 39%
- University High School — 23.7%
- Elwood College — 22.6%
- Kyneton Secondary College — 21.6%
- Malvern Central School — 20.7%
- Buckley Park College — 17.9%
- Elisabeth Murdoch College — 19%
- McKinnon Secondary College — 17.8%
- The Lakes at South Morang P-9 School — 17.4%
- Somerville Secondary College — 16.8%.
For a comprehensive list of the top growth school zones for greater Melbourne, visit Domain.