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Do school catchment zones affect property prices?

9 Mar 2016 cathrynmcdonnell 0 Comment

house keyTrying to find the perfect property is never an easy task and it can be made even more difficult if you’re trying to buy in a popular school catchment zone.

Property prices and rent values can be extremely competitive in certain school zones as some parents are willing to pay premium prices to guarantee their child entry into the best schools. In some cases it can prove to be cheaper to move near a public school with a good track record rather than pay private school fees.

There are even buyers out there who are willing to downgrade their property expectations if it means living within the right catchment.

If you’re interested in seeing just how much of an impact a catchment zone can have, check out the Domain 2015 School Zones Report, which shows just how much property prices have increased in the country’s top catchment zones.

Whether or not you have a child of school age, it’s well worth researching the schools in your area to see how this might have an impact on local property prices.

For those who aren’t worried about the schools in your area, you might be able to find a more affordable property by buying in areas outside of the popular school zones.

However, while catchment zones are an important consideration for many buyers, the popularity of catchment zones isn’t guaranteed to remain steady over time. If you’re thinking about moving to an area in the hope that you’ll have children going to a specific school one day then there is a chance you will end up disappointed.

Schools are known to change reputations over the years, and some may move to a new location or close down altogether. There’s also the possibility that your child may end up requiring a different teaching style than the one employed by a school that’s been chosen prematurely.

If you would like to find out more about your local schools, you can start your research by visiting the My School website.

What do you think? Do school zones have an influence over your property preferences?

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