Home prices plummet as changes to catchment areas scare parents away
As much as $75,000 is estimated to have been wiped off home values in pockets of Sydney — all because of changes in the catchment areas of sought-after public schools. SEE IF THE CATCHMENT CHANGES AFFECT YOU.
As much as $75,000 is estimated to have been wiped off home values in pockets of Sydney — all because of changes in the catchment areas of sought-after public schools.
New boundaries for several popular schools this year are having a flow-on effect for home prices in western and northwestern Sydney.
This is because of the high demand from parents for properties in the catchment area of leading public schools.
This year, northern parts of Bella Vista and the southern stretches of Kellyville in the city’s northwest have been zoned out of the catchment area for Matthew Pearce Public School — considered one the best government schools in northwest Sydney.
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Westmead Public School’s boundaries have similarly been rezoned, meaning parents who have bought in the suburb and do not have children already enrolled at Westmead will be forced to send their kindergarten children beginning this year to the new O’Connell St Public School.
Across Sydney certain primary schools are prized because of their outstanding NAPLAN results and their Opportunity Class programs which parents see as a springboard to highly competitive selective schools.
The Property Expert real estate analyst Robert Klaric said homes in the Bella Vista catchment of Matthew Pearce Public and parts of Parramatta and Westmead where students are no longer eligible to enrol at Westmead Public could see a fall of five per cent in prices because of lower demand.
“I think it is a five per cent adjustment either way,” Mr Klaric said.
“Many buyers want to get their children into a specific catchment area, so hence it creates a demand for a property as a opposed to schools who don’t have a reputation, that it is not as desirable or valuable.
“The schools are cutting each others grass in relation to the boundary areas, and as more schools are being built and the suburb’s demographic starts to change.”
SCROLL DOWN TO SEE MAPS OF THE CATCHMENT AREAS
The average price of a house in Bella Vista is $1,540,000, with a five per cent drop shaving around $75,000 off its value.
Matthew Pearce Public School has 1404 pupils. Its Year 5 NAPLAN reading and writing scores are above average and its spelling, grammar and numeracy results are “substantially above” average according to Myschool data.
But one of its main attractions is its elite opportunity class for bright students which is one of the most sought-after in the state.
Westmead Public is ranked above average in NAPLAN spelling and numeracy — with 47 per cent of Year 5 student achieving a band 8 in numeracy — above the national average of 12 per cent.
Director of Ray White Westmead Joseph Chidiac estimated there had been a five per cent drop in rental prices in the area due to the parts of the school’s catchment being hived off to the new O’Connell St, Parramatta, campus.
“We have seen definitely a change in people’s attitude, people now prefer to be closer to the school,” he said.
Owner of website SchoolCatchment David Jin, who analysed changes in Department of Education catchment data, said the new school areas would shave up to 10 per cent off homes which used to fall in Westmead school area in the next year or two.
He said parents were desperate to get their child into Westmead because it was considered to be a diamond in the rough compared to some other schools in the region.
While some parents would find a brand new school attractive, Mr Jin said others viewed them as an unknown quantity and this had an impact on property values.
“The thing is with the new schools, they don’t have any records to go with,” he said.
“You won’t really know much about them. If you’re parents looking at houses, it’s a big investment, you want it to be a sure thing. The rule of thumb of what people put on school’s value to homes value is 10 per cent, so drops of anywhere between five and ten per cent is possible.”
SCROLL DOWN TO SEE MAPS OF THE CATCHMENT AREAS
Mr Jin said many parents wanted to buy near the best primary schools to give their children a chance at making it to a selective high school.
He said Matthew Pearce’s opportunity class was a big drawcard. “One reason is that they have an opportunity class with them, that’s sucking a lot of higher ranking students from nearby schools from Year 4 and Year 5,” he said.
Sought-after public schools use a 100-point ID system to ensure parents live in their catchment areas.
But Mr Jin said he spoke regularly to parents and knew numerous examples where parents had engaged in “address borrowing” to get into a particular school.
I’D MOVE FOR THE RIGHT SCHOOL
Jasmyne Blanche would happily move house to get her son Ruben into the perfect school.
The six-year-old and his brother attend Parramatta West Public School but Ms Blanche wants to get her children into a school where Ruben’s special needs are met in the long term.
“I would move house to move to the right school,” she said, adding that a school’s reputation and teaching quality as well as the number of demountables played into her decision about which school catchment she should live in.
She said she would be happy to pay an extra $50 a week on her rent if it meant her kids could attend a quality school.
Ms Blanche said she spoke to other parents about schools which had a good reputation and those which didn’t.
“You would think they are all following the same curriculum, have the same quality of teaching, but that’s not the case.”
Ms Blanche said she was reluctant to take a chance on a brand new school after her eldest son Jude’s experience at another school. “I felt they lacked routine, there was no history associated with it.”
SCROLL DOWN TO SEE MAPS OF THE CATCHMENT AREAS
PREMIUM SCHOOLS ARE HOT PROPERTY
Comment by Jonathan Chancellor
Parents across Sydney have been long prepared to pay a pricey premium to be near a well-regarded local schools.
Houses in the catchment areas of sought-after public schools, that offer the silver lining of automatic entry based on nearby residency, are dearer than those just outside.
Estate agents have calculated that properties in prime school catchment areas can sell for up to 10 to 15 per cent more than those just streets outside.
Estate agent John McGrath noted during the recent boom that Sydney showed the strongest link between school zones and rampant price growth of all the capital cities.
Agents suggest the post-boom pricing in such zones do face declines, but possibly not as severely as other suburbs, in the current downturn.
Strict enrolment rules means ownership or rental occupancy within the zone is imperative to get through the school’s front gates.
Schools have been known to engage investigators to uncover any families rorting the catchment system.
The zones of Parramatta Public School and Strathfield Girls High School have long outperformed neighbouring suburbs. Housing within the Cherrybrook Technology High School catchment and Cherrybrook Public School has also experienced price growth faster than neighbouring suburbs.
Ryde, Epping Balmain, Pagewood and Ashbury school zones have fared well too.
Parents and school-focused families, buyers and vendors hoping for a windfall need to be attentive as the defined school catchment area can change, most typically shrinking the boundaries due to pressure on class sizes.
HOW THE CATCHMENT AREAS ARE CHANGING
1. Roseville Public School:
Roseville Public School lost the south eastern corner of the previous catchment that is east of High Street is given to the Castlecove Public School.
2. Willoughby Public School:
Willoughby Public School lost the north eastern corner and that is given to Castlecove Public School as well
3. O’Connell Street Public School:
New public school has been opened. It will take on kindergarten students in 2019. It will be K-6 from 2020.
4. Parramatta West School
Will lose the northern half of the current catchment from 2020.
5. Westmead Public School
Catchment will shrink from 2020 and will lose everything north of the railway.
6. Crestwood Public School
Catchment gets a minor shrinkage.
7. Matthew Pearce Public School
A major shrink of the northern region and those are now part of the new Bella Vista Public School.
8. Bella Vista Public School
New school has opened and taken over the northern region of Matthew Pearce Public School and the southwestern part of what was previously Kellyville Public School.
9. Kellyville Public School
The southern half has become part of the new Bella Vista Public School’s catchment.
10. Haberfield Public School
Major expansion of the catchment to the south of Parramatta Road at the expense of Ashfield Public School. Minor loss on the northern section which was given to Debroyd Point Public School
11. Ashfield Public School
Lost the northern half to Haberfield Public School
12. Ironbark Ridge Public School
Eastern half that is east of the Smalls Creek is now the catchment of the new North Kellyville Public School
13. Parklea Public School
Minor shrink on the southern border with Caddies Creek Public School absorbing these changes
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