Numbers demonstrate correlation between top schools and property prices
Thursday, November 15, 2018
Research released this week from analyst firm PropertyESP once again reinforces the impact of preferred public high schools on surrounding property values.
Analysing property sales for the past two years in the catchments surrounding Churchlands, Applecross SHS and Shenton College, the company found that price differentials could range from anywhere between $40,000-$150,000 depending on the school boundaries.
“For those living in the Floreat area if you fell in the Shenton College catchment, then the median house price was $1.135 million, in comparison - still within Floreat, if you fell into the Churchlands catchment, then the median house price was $1.295 million,” Ms Reece, Director of PropertyESP stated.
“Karrinyup is the same, with those with properties in the Carine catchment having a median house price of $850,000 while within the Churchlands catchment the median house price is upward of a million.”
When looking at Alfred Cove which offers both Applecross and Melville SHS options, again the houses in the Applecross catchment reflected a median price of $975,000 compared to Melville with a median price point of $900,000.
And in Winthrop, those houses located in the Applecross catchment attracted a median price point of $930,000 compared to the Melville catchment at $805,000.
Ms Reece concluded by saying that the three schools ranked in the top six of the State Government High Schools and for good reason.
“The ATAR scores for these schools are very high and so they do attract a reputation for being among the best and as a consequence are highly sought after,” Ms Reece said.
“And when you see the ratio of students attending Government High Schools, compared to private and independent schools in some of these suburbs, you will see up to 65% in favour of the public system.
“Therefore as we lead into the end of the school year and commencement of 2019, PropertyESP predicts there will be a flurry of sales in these locations, as families relocate for the senior high school years.”
The Channel 9 News story can be viewed by clicking here.