Homes located close to schools have always held appeal for families with school-aged children though the reasons for this appeal have changed over the years.

A generation ago, it was common for kids to walk to and from school – and even head home for lunch often with a few friends. This practice has largely died out in line with social trends such as both parents working.

Even so, properties within a short drive, or better still, a short stroll away from schools are evergreen favourites, often highly sought-after by families, teachers, and school support staff.

Long story short, if your home is located close to a school, it will always attract buyers.

But here’s the really exciting part.

New research shows that if your home is located within the catchment zone of a high-performing public school, you could be sitting on a gold mine.

According to analysis by Cotality (formerly CoreLogic), families are paying 6-figure premiums – in some cases up to $1.3 million extra, for homes within the catchment zones of high-performing public schools[1].

As a guide, in Sydney, homes in the catchments of Killara High, Willoughby Girls and Lindfield Learning Village notched up a median value nearly $1.3 million higher than those outside the catchment zones.

In Melbourne, families are paying a premium of up to $357,000 for homes in the catchments of Princes Hill and University High School.

As Cotality notes, this sort of price premium is a significant upfront cost.

But for parents it can make good economic sense, as it can potentially cost less than paying private school fees.

Think of it this way.

According to Futurity Investments, 13 years of education at a private school can cost a total of $350,158 nationally[2]. That’s just for one child.

And unlike school fees, which tend to rise over time, mortgage repayments often decrease in real terms due to inflation.

This makes a one-off investment in location potentially more cost-effective for families with children than recurring tuition fees. 

This is very reassuring for homeowners who are located anywhere near a school.

If you have kids that have grown up and moved on to uni, TAFE or the workforce, it’s worth calling your local Raine & Horne property expert to know if you could make a serious gain by selling now that your family’s school days are done.

For an obligation free appraisal of your property, talk to your local Raine & Horne agent today.

[1] https://www.cotality.com/au/insights/articles/families-pay-six-figure-premiums-to-secure-homes-in-top-public-school-catchment-zones

[2] https://www.futurityinvest.com.au/financial-advisers/financial-adviser-news/financial-adviser-blog/2025/01/14/cost-of-education-in-new-south-wales-2025