House prices in desirable school zones soared by 40%+ in 2023 

Real Estate

Team MONEYME|05 May 2023| 2-minute read

House prices might have dropped in many places. But, when it comes to desirable school zones, they’re still on the up across Australia. 

Here, we take a look at the zones that saw the most spectacular jumps in 2023.  

New South Wales 

In New South Wales, the 2023 winner was Artarmon Public School on Sydney’s North Shore. It consistently ranks highly in NAPLAN and offers academically selective opportunity classes in years 5 and 6. House prices jumped by 43.5% to a median of $3,545,000. This was the second highest growth in all catchments in Australia. 

Second was Darcy Road Public School, in Wentworthville, in Sydney’s West, where prices increased by 32.9% to a median of $1,212, 500. Third was Oberon High School, near the Blue Mountains, where prices leapt by 31% to a median of $550,000.  

Victoria 

In Victoria, the school which made the biggest impact on house prices in 2023 was Alphington Primary, in Melbourne’s Northeast. Its catchment saw 27.9% growth, hitting a median of $2,260,000.  

Not far behind was Balnarring Primary, on the Mornington Peninsula, 80 kilometres south of Melbourne. Prices soared 24.5% to reach a median of $1,842,500. Third place went to Mount Dandenong Primary, around 50 kilometres east of Melbourne, where a 23.8% rise led to a median of $1,090,000. 

Queensland  

Top of the pops in Queensland was Walloon State School, near Ipswich, around 50 kilometres southwest of Brisbane. House prices grew a whopping 43.9%, to hit a median of $626,000.  

This was the highest growth in Australia.  

The next most dramatic change occurred around Canungra State School, in the Gold Coast Hinterland. A 42.9% increase saw the median reach $950,000. In third spot was Tamborine Mountain State High School, also in the Gold Coast Hinterland, where prices leapt by 37.9%, reaching a median of $910,000.  

Education matters 

These statistics show that, for both education-minded parents and investors, school zones are still a safe bet for those concerned about long-term growth.  

Key takeaways 

• Property prices have been decreasing in many places, but they’re still increasing in school zones across Australia. 

• The highest growth in Australia occurred in the Walloon State School catchment, southwest of Brisbane, where prices grew by 43.9%, to hit a median of $626,000. 

• The second highest growth in Australia was in the Artarmon Public School catchment, on Sydney’s North Shore, where prices leapt by 43.5% to a median of $3,545,000. 

*Source: All stats come from the Domain 2023 School Zones Report: https://www.domain.com.au/research/school-zones-report/2023/