News.

08 Oct 2021

 

Schools are supercharging

suburb property prices

For many home buyers throughout Australia, including here in Adelaide, getting children into a preferred or even a desirable school means paying a premium for the property.

Domain, one of the country’s leading online real estate sites, has just released its School Zones Report. According to the figures, parents are paying a premium of up to 20 per cent more than the average for homes in the catchments of highly-regarded schools.

Not surprisingly, Sydney and Melbourne topped the class for the greatest school zone house price growth. However, South Australia wasn’t spared the school versus suburb effect.

According to Domain’s figures, house prices in 88 per cent of our state’s primary school catchment zones, and 94 per cent of secondary school catchment zones increased during the 12 months to July.

But what does this mean to parents looking to buy. Well, with the pace of house price growth based on school catchments increasing on average by 15 per cent, and the state’s median house price sitting at around $475,500 (metro), it means parents are effectively paying over $70,000 to pick their kids’ school.

Of course, these are not cold hard facts, but it’s certainly food for thought. In which case, have a think about this. Oaklands Park and the suburbs around it have some of the highest regarded education facilities in the state. Kindies, schools and tertiary centres of excellence that are among the pride of the state.

In short, if these schools were in almost any other part of the country, you might pay a hefty premium to buy a house next to them. But not at Oaklands Green.

For our buyers, access to excellent schools is part of the fabric of the development. As is convenient access to transport, to wide open green spaces and, most important of all, an affordable home that people can call their own.

We believe our neighbourhood can teach all urban transformations a lesson or two.

For all sales enquiries regarding Oaklands Green, contact Tom via: tom@connektup.com.auTo keep up to date with the Oaklands Green news, be sure to follow us on Facebook and Instagram.

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