Why are schools and real estate so closely intertwined? Because it’s one of the first things families will look for in an area, if not the first thing! Parents tend to put their kids at the forefront of their life decisions, so finding a school often comes before finding a house.
This means schools have a big effect on the property prices of a suburb. A popular school attracts families who want to be near it, and real estate demand in that area goes up.
One of the measurements of how well a school is doing is the annual NAPLAN tests that take place every year. The National Assessment Program – Numeracy and Literacy is a series of tests for years 3,5,7 and 9. The tests are focused on the basic skills of the kids, with the aim of providing a snapshot of their reading, writing, language and numeracy skills.
A school with a higher NAPLAN score is going to be more appealing than a school with a lower one.
The Beauty of Excellent State Schools
Good state schools affect the surrounding suburb property prices more than private schools. This is because a good state school has a catchment area that is very desirable to live in. People know they can live in the catchment area and send their kids to a decent school, free of charge.
In these days of skyrocketing living costs, quality free education is becoming increasingly important. According to REIQ Chief Executive Antonia Mercorella, “Parents were prepared to pay a premium of up to $50,000 for properties inside a high-performing state school catchment.”
The reason parents are prepared to pay extra is because they only have to buy their house once and then they can enjoy the quality free education. If the state schools in the area they lived in weren’t any good, they’d have to send their kids to a decent private school. That would incur a high annual cost thanks to school fees! It makes financial sense to many families to rather pay the premium on a home in the catchment for a good state school.
The Wishart Effect
Wishart is a suburb with a lot going for it, but one of its shining lights is the schools there. You see, most of the suburb lies within the catchment of two exceptional state schools, Wishart State School (Primary) and Mansfield State High School. This draws many families to the region, which is conveniently located and offers a massive range of amenities.
What has contributed to the good reputation of these two schools? Year after year, they give superb performances in the NAPLAN tests. Let’s take a look at their scores for 2023:
Wishart State School: 543.4 Points (Year 5, 5th in Queensland)
Mansfield High State School: 609 Points (9th in Queensland)
High-performing state schools like that immediately place a suburb on the radar of home-buying families.
Get in Touch With the Leading Wishart Real Estate Agent
If you’ve got questions about the Wishart schools and how they can affect your property price, get in touch today. I’m always here to answer your questions, and having gone to school in this area myself, I have a deep understanding of the suburb and its context. Let’s chat today!