Webinar
Kick-Start Your Property Investing in 2019 - Wed 16 January | Register Free >

Real Estate Investar Blog

auckland live event

Restricting Auckland high school zones will increase house prices

A change to Auckland high school zones is expected to drive house prices up even further, a real estate organisation says.

Real Estate Institute of New Zealand chief executive Bindi Norwell said it was understandable schools may need to stop out-of-zone applications as the region's population continued to grow.

"However, given the upwards pressure on prices of buying in a popular school zone, our concern is that this will place even more pressure on some of those areas, further adding to unaffordability issues for people to send their children to some of these popular schools," Norwell said.

Norwell said school zoning was something parents with school-aged children considered when purchasing a property.

"There is usually a premium for homes in so called 'good' school zones and this is evidenced when sales comparisons are made between different areas," she said.

Houses in zone for Rangitoto College have increased by 35.2 per cent in three years.

Houses in zone for Rangitoto College have increased by 35.2 per cent in three years.

The average house price in-zone for Rangitoto College had increased by 35.2 per cent to $1,320,000 in three years, REINZ figures showed.

Homes in the Western Springs College zone had increased by 30.2 per cent.

Norwell said these figures showed how popular some of the school zones were – especially those close to Auckland CBD and near public transport.

"Considerations of Auckland's traffic has become of increasing importance and many buyers would rather pay a premium for location to save time on travel to the city," she said.

Topics: auckland

Find New Zealand's Highest Yielding Suburbs!

Comments