New data from Homes.co.nz has suggested that houses in zones for certain public schools can expect to pay a premium up to 90.5% on homes in the wider area.
The data compared the median regional price to the median price for different school zones to find a “school price premium”. The prices are the estimated value calculated by Homes.co.nz and are updated monthly.
The median estimate price for property in the Auckland region is $940,610:
• Houses zoned for Epsom Girls’ Grammar School have a median price of $1.79 million, an increase of 90.5% on the Auckland average.
• Houses in zone for Glendowie College had the second highest median price of $1.54m, an increase of 63.43%.
• Takapuna Grammar School on Auckland’s North Shore was close behind with a median price for houses in zone for the school at $1.52m, an increase of 61.29%.
• Houses in zone for Auckland Grammar were 41.2% higher than the Auckland median, with a median price of $1.33m.
• Houses in Mt Albert Grammar School zone were 22.6% higher, with a median of $1.15m.
Outside Auckland, the median prices for desirable school zones were highest in Christchurch and Hamilton.
• Houses in zone for Rototuna Junior High School in Hamilton had a median price of $738,746, 43.75% higher than the regional median of $513,915.
• In Christchurch, houses in zone for Christchurch Boys’ High School were priced 35.85% higher than the regional median. The median price for houses in zone was $601,869, up from the median Christchurch price of $443,035.
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