You know that school catchments are becoming more and more important in the property market when the large listing websites make it a feature in their searches. Doing research on popular school catchment areas and suburbs surrounding high quality schools is a great property investment tip, simply because there will be higher demand for properties in these locations among tenants from certain demographics. Looking at price increases in a certain suburb will tell you a lot about the levels of demand among owners and tenants, as well as keeping an eye out for brand new property developments or sites scheduled for re-development.
School Catchments A Factor In Surging Property Prices
According to one recent article, areas located in popular school catchment zones are contributing significantly to the median property price increases. The article, published by 9news.com.au, found that in suburbs such as Parramatta and Ashbury the median house price had grown by an impressive average of around 50% during the past year. This was believed to be largely due to the increased level of demand among property owners and tenants to enrol their children in the local schools.
Unsurprisingly, both popular and well regarded primary and secondary schools were found to increase the prices of the properties situated in the catchment zones. In keeping with general market trends, Sydney recorded the most increases in median property prices in popular catchment areas, and the top primary schools included Parramatta, Epping, Balmain, and Ryde Public Schools. The National top catchment growth high schools included Strathfield Girls High School, Ryde Secondary College, Epping Boys High School and Castle Hill High School.
Targeting A Tenant Demographic
Obviously the demand for properties in these areas is coming from families with school age children, and a great property investment tip is to think about the type of property that would suit these potential tenants. For example, more and more families with young children are opting to look for brand new apartments and townhouse complexes when they are renting. This is because they are generally maintenance free, have family-friendly open plan designs, and they often provide safe and convenient play areas and other recreational facilities such as pools. Property developers also understand the attraction of high quality schools, and you will often find new developments being planned in areas where there is demand for a particular primary or secondary school.
If you are looking for assistance with targeting a certain location for property investment, then talk to the investment professionals, Ironfish. They can assist you with finding suitable property based on a long term strategy and tailored to your goals for the future. They can help you get access to pre-public and pre-negotiated deals that will give you the head start you need in today’s fast moving property market.