Of the top 10 primary school catchment zones for house price growth in Australia, Logan Reserve – home to Logan Reserve State School – saw a whopping 40% increase in value.
The figures come from Domain’s annual school zones report. Don’t be fooled – this report doesn’t rank schools. It ranks the property price growth based on school catchment zones, instead of individual suburbs or postcodes.
In fact, in the case of Logan Reserve the price growth hasn’t been driven by school-seekers at all. A local agent told Domain the semi-rural suburb was attracting developers buying up acreage properties to subdivide.
So what value does the report offer?
“This is looking at price growth in a different way; making sure you have as much information as possible,” says Nicola Powell who is Domain Group’s chief data scientist (cool title!).
We’re all for making informed decisions, but if the catchment area price growth doesn’t necessarily have much to do with the school, then this report might be most useful as a headline grabber.