Housing prices in areas with elite schools are skyrocketing.
An annual report released by property site Domain showed that the highest growth areas, as determined by school catchment areas, were in the Logan and surrounding areas.
Catchment areas for Woodridge, Beenleigh, Marsden and Browns Plains all saw annual median property prices rise between 27% and 32% over the past 12 months.
Australia-wide, Woodridge was placed 3rd on the list with a median house price of $450,000, up 32.4% on last year.
It was followed by Beenleigh (5th with a median house price of $495,962 – up 28.8%), Marsden (6th with a median house price of $550,000 – up 27.9%) and Browns Plains (7th with a median house price of $620,000 – up 27.8%).
A similar list was compiled for primary school catchment areas, in which Park Ridge State School was placed in the top 10, with a median house price of $932,000, a rise of 34.1% over 12 months.
The study did not include private schools.
Property agents in the area were full of praise for the quality of schools, with all those in the list recognised for learning programs and elite sporting hubs.
Ray White principal Avi Khan said the way buyers behave and buy properties has changed as a result of the recent price growth.
“Prices surrounding the Logan region have gone through the roof in the last few years,” he said.
“Buyers have looked at Logan through different lenses and are saying it’s such a great suburb and so affordable.
“The schools have a great reputation and that is encouraging more and more first homeowners to buy in these suburbs.
Marsden selling agent for Ray White, Rebecca Cuderman, said Marsden State High School, for example, had been named the best school in Australia in 2020, and was extremely well known for its academic and sporting scholarships.
Former Marsden principal Andrew Peach and his successor Kylie Steinhardt have both been named Queensland’s principal of the year.
“This has made the area very desirable for buyers,” Ms Cuderman said.
All agents however, acknowledged there were multiple factors which contributed to housing price increases, including the affordability of housing and consequent demand.
Real Property Vibe sales manager Alison Veivers-Russell said former Beenleigh State High School principal Matt O’Hanlon had made extraordinary connections with the community.
The school’s hospitality courses had become well known and were highly sought after. These included overseas learning opportunities, and a chance to work with celebrity chefs such as Matt Golinski at the school’s annual Paddock to Plate event.
The school also has a popular agriculture program.
“The demographic of Beenleigh is changing,” Ms Veivers-Russell said.
“People are being pushed from the Gold Coast to here, and when choosing the area they want to live in, schools can play an important part in that consideration.
“The affordability of our market is certainly attracting families to the area.”
She said although she found the 30% median house price rise surprising, she noted that the school catchment didn’t include many new development.
This meant lower priced housing was rising in value quickly.
“Half of the properties we are selling are to investors and the other half are to owner-occupiers,” she said.
“We are seeing a lot of investment properties becoming owner-occupied which means families are investing in this fast-growing area.”
According to the survey, the fastest-growing high school catchment areas were: Tamborine Mountain, Beaudesert, Woodridge, Oberon (NSW), Beenleigh, Marsden, Browns Plains, Morayfield, Burpengary, Springfield Central.
Primary schools: Walloon, Artarmon (NSW), Canungra, Cambridge (Tas), Coorara (SA), Carole Park, Blair, Acacia Ridge, Wooloowin and Park Ridge.
