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April 28, 2015 | Media Statement
Properties in the catchment areas of the best schools in Perth are always top of the list for foreign buyers looking to invest according to Perth buyer’s agency, Property Wizards.
Buyer’s agent Liz Sterzel said there are a number of foreign investors who consider Perth for the quality of its schools.
“Perth’s top schools are on a par with the rest of Australia, and those foreign and expat buyers for whom this is a consideration will need to think through what they’re looking for in a school as well as what they’re looking for in a home.
“When we meet with a potential client for whom a good school is their number one priority, the first thing we need to discuss is which school and their budget.”
ACADEMIC EXCELLENCE COMES AT A PRICE
Ms. Sterzel said that many of the most prestigious private and public schools in Perth are located in the most expensive investment areas, and foreign buyers will pay a premium to live close to their chosen schools.
“Many of the top schools are located in Perth’s western suburbs, which is also the most expensive investment area in metropolitan Perth.
“Not only do these suburbs boast the best schools, but they are well-established areas close to the ocean and Perth CBD, which makes them very attractive.
CHOOSING PUBLIC OR PRIVATE
One thing that all foreign buyers must consider when deciding on a school and their budget is whether they prefer public or private education, Ms. Sterzel said.
“Shenton College and Rossmoyne Senior High School are two public high schools that are amongst the top academic schools in Perth,” she said.
“However, both suburbs have median house prices over $1m, and public schools require attendees living in the catchment area, meaning these suburbs command a premium.
“Willetton Senior High School is also ranked very highly, but the surrounding real estate market is slightly less demanding, with a median price of $725,000 as at December 2014.”
“Whenever we have a client wishing to buy properties that allow their children to attend these schools, we will be competing with several buyers for every property, and there is no shortage of potential tenants.
She said that private schools do not require attendees to live in the catchment area, which can give more leeway with schools in high budget areas.
“However, most families will look to purchase as close to the school as possible due to the convenience factor.
“This convenience demands a $1m plus budget, with top boys schools including Christ Church Grammar School in Claremont and Scotch College in Swanbourne.”
She said, ‘a good school is often the most important consideration for both foreign buyers and local investors, and the prestige around the top schools is reflected by the surrounding real estate.
“Foreign buyers looking to invest here need to consider their budget carefully, decide what they’re looking for in a school and seek professional advice to ensure they know their market.”