Here’s the cheapest way to buy into SA school zones.
Looking to buy into one of our state’s top school zones?
Well you might be in luck, as new data has revealed some of the best buying opportunities in our top public primary and secondary schools.
PRD analysis of SA’s top Government schools as ranked by bettereducation.com.au has revealed that while it can be expensive to buy into our most popular schools, it is possible to get in on a budget.
And there’s quite a diversity in the prices you could pay.
Let’s start with primary schools:
Primary schools
In Linden Park Primary, in the heart of the eastern suburbs, you could pay $2.36m for a median-priced Tusmore house.
You could also pay $1.485m dor a Glen Osmond house, saving yourself a considerable sum.
Or, if you’re prepared to give unit or apartment living a try, you can get into the Hazelwood Park zoned for the school for just $600,000.
Rose Park Primary’s pretty exclusive, and here, for houses, Rose Park is a better option than Toorak Gardens by about $200,000, while a Rose Park unit or apartment will set you back just $630,000.
Ovingham is the cheapest option for houses in the North Adelaide Primary School zone at $1.04m – significantly less than the $3.13m you’ll pay in Medindie – while a Fitzroy unit or apartment will get you in for just $457,500.
Rose Park Primary School Pic: Keryn Stevens
East Marden Primary’s cheapest options are either Stepney houses at $1.05m or Joslin units or apartments at $442,000.
And while you could pay $1.862m for an Erindale house in Burnside Primary’s catchment, the smarter money is a $1.5725m Hazelwood Park house, or a $600,000 Erindale unit.
Unit shoppers can also get into the Magill School zone for just $709,250 in Kensington Gardens, and the Prospect Primary zone for $457,500 in Fitzroy.
High schools
There are good savings to be made in our top-rated public high school zones too.
Take Glenunga International High School.
Sure, you could pay $2.05m for a median-priced Malvern house, but if you really wanted to drive your dollar further, you could buy in Eastwood where houses have a median of just $1.128m.
Glenunga International High School. Supplied
Unit buyers can save even more by picking up a Malvern unit, which carries a median price of just $512,500.
There are similar savings to be made for those prepared to shop around and compromise in the Marryatville High School zone.
Nothing’s stopping you from paying the $2.36m for a median-priced Tusmore home, but if all you’re looking to do is get into the school zone, you can do it for $1.0925 in Evandale.
A Joslin unit will get you in for just $442,000.
The cheapest houses in the Adelaide Botanic High zone are found in Keswick for $660,000, and units in Kurralta Park for $467,500, while your best bet into The Heights School in Adelaide’s northeastern suburbs are Surrey Downs houses at $751,500 or Modbury Heights units at $599,000.
Adelaide High School is an interesting one, because the cheapest houses in the zone – a $418,100 median-priced house – is actually cheaper than the cheapest unit in the zone – $457,500 in Fitzroy.
The difference between the highest price properties in the Norwood International High School zone ($1.975m Rosslyn Park houses) and the cheapest homes ($600,000 St Morris units) is a whopping $1.375m).
Analysis
PRD Real Estate chief economist Dr Diaswati Mardiasmo said the amount needed to buy a house in a prized school zone was significant.
“Especially for primary school, parents must be prepared to spend more money on their house in order to be within the catchment of a top school,” she said.
“This relaxes a little bit for secondary school, however it is mostly because there is a wider catchment area and thus more suburbs to choose from (and gives a wider price range) as opposed to suburbs near a top school having a lower median house price.
“There is more of a chance for affordability if you are willing to consider units, however … units are not always practical.
Many parents choose where to live based on where they want their kids to go to school. Picture: Getty Images
“There are some affordable options still, as per what the data shows, which gives parents some hope, however this is limited and with the way that the Adelaide market is going, parents are on borrowed time.”
Dr Mardiasmo said school zones was a determining factor for many when househunting.
“It is definitely a factor, but we have seen a variety in where it sits within the priority list,” she said.
“Overall though for families it usually sits as number two or three; with items like affordability, safety, and having family nearby being the other factors.
Dr Mardiasmo said buyers were conscious of price when buying into a school zone, but it wasn’t a determining factor for all.
“This is almost split into two, depending on how important getting the child into a school zone is,” she said.
“If it is of highest priority, price is secondary; with the knowledge that the suburb will remain a hot spot and high demand.
“Yes, they commit to a higher level of debt, however the appreciation in value over the years is more beneficial than the higher level of debt.
“If it’s second or third priority, then the price consideration/consciousness increases.
“These parents tend to look for the most affordable way to get into the school – for example going for a unit or renting, to minimise ongoing costs.
PRD Real Estate chief economist Dr Diaswati Mardiasmo. Supplied
Dr Mardiasmo said she expected buyers to become increasingly price sensitive as cost-of-living pressures exacerbate.
“At the moment price sensitivity has increased, because cost of living has increased exponentially,” she said.
“The good thing about living within a catchment is that many other kids from school also live nearby, so you can do play dates that are quite close and share resources; all of which reduces costs.”
Dr Mardiasmo said with uncertainty around fuel prices she wouldn’t be surprised if living closer to schools became more front of mind for buyers.
“I wouldn’t be surprised if it does, especially as kids can walk and bike to school,” she said.
“It also fosters that community feeling with other school kids and increases the possibility of shared resources costs – for example shipping costs of school products, carpooling, and others.
“That said, it also still depends on the working needs and arrangements of the parent.
“If the parent still needs to go work in the CBD or somewhere far in a car, and they don’t have hybrid or electric, then the parents still need to spend money on transport costs.”
Education plays a huge part in where people choose to live. Picture: Getty Images
Williams Real Estate sales agent Marina Ormsby is currently selling a property at 201/82 Osmond Terrace, Norwood zoned for Norwood Primary and Marryatville High said she had seen buyers target properties specifically for the school zone they are in.
“It’s very important to them because it allows families to get their children into their desired schools and feel part of a community and a network,” she said.
Marina Ormsby at a home she is selling at 201/82 Osmond Terrace, Norwood, which is zoned for Norwood Primary and Marryatville High. Picture: Ben Clark
“People definitely pay more for a property near a good school, and we see people buying properties which will be investments in the short term and in the longer term they will live there when their children are of school age.
“It’s one of the first things family buyers look at – it’s in their top three deciding factors as to whether they are buying or not.”
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