VIC The Market has certainly changed direction - Melbourne

Pro athletes go through so much hardship and training, one bad injury (or ball tampering incident) and your career is over.

Plus, many struggle with life, work and finance after they retire from sports.

 

Please explain to me how it’s not gospel when their is a direct correlation between these school catchment zones and house prices?
You said yourself McKinnon has approximately a 10% increase in house prices.
The increase is directly related to the school and the reason being is the perceived benefit to the child’s education. I don’t think these schools hide the fact they are top 10 rated in their marketing handouts.

No matter your strategy to put your children their it’s done because of a better perceived outcome. If anyone argues this they are absolutely kidding themselves. And the reality is most people would just be taken the path of purchasing inflated house property.

Let me ask you, if McKinnon were say ranked 50. Do you believe property in its catchment would be as valuable?

I’ll leave the other points alone because I have very strong views on private schooling that I know not everyone will agree with and people tend to get very upset when this is challenged.

 

BTW.... who are the 3 that voted...... strong upward..... slap on the wrist with a feather duster

 

There is a direct correlation between zones and prices, but I was referring to the metrics you listed people using as gospel to pay this premium(Asian communities with almost non-existent sports, music or drama programs but with high ATARs) and confirmed in your post below

'Mate it was an off the cuff comment more just having a crack at these metrics which many people use as gospel thinking paying ridiculously over inflated house prices is worth it because hey the school has a high score and that will result in a better outcome for their child’s education.
It’s laughable at best'.

You stated metric of the success of a school is

'If you want a true metric of a schools success, we should be measuring incomes of students over periods of time.'


Our metrics were for a culturally diverse school with strong teacher and peer support along with strong academics and a well rounded program including outdoor education, music and sport.

I prefer my metrics.

 

Agents

 

on the topic of schools and whether a high enter means the will earn more money, anecdotally I have heard from my peers working for the Big 4 and other professional services that there is definitely a bias to kids coming from better known private schools.

 

Check this out. Ignoring the recent boom one is a 350k property the other 600k. There are leagues between those two estates and Jarryd crescent in particular is a very undesirable street.

4 Hasken Court, Berwick, Vic 3806
28 Jarryd Crescent, Berwick, Vic 3806

For those who know the area it's extremely unbalanced and bizarre to see areas in Old Berwick, Edrington. Avebury and Beaconsfield selling for the same price as Mansfield, Bemersyde, Chase/Kingsmere estates.

I think it's a distortion of migrants having no idea what they're buying. Properties of any form are instantly becoming 600k. This will all straighten itself out at one point.

 

19 William Street Oakleigh Vic 3166 19 William Street, Oakleigh, Vic 3166

Good buy? What would this have sold for at the peak?

 

Wow.. Better house. But still..

 

I can't think of much better locations than Oakleigh for 1 mill.

 

For private schooling or against?

 

Would appreciate your thoughts on my situation here:

Leaving Australia, should I sell?

 

What do you think about the $600 - $900 bracket? 4 2 2, 15km from CBD, family type home with backyard and park across the road?

 

This one in Werribee sold for $525k in July 2017 at the peak. I was there at the auction and these 2 cocky Chinese dudes in a new S350 Merc took it for that price. The house is on sale again for the same price range >> https://www.realestate.com.au/property/31-tower-rd-werribee-vic-3030. I'd be keen to see how much it goes for this time around.

 

The only change/improvement is that they replaced the carpet by laminate flooring. Nothing else. I think they can get $550k-$570k for it. Location is pretty good, decent house on a corner block (but not big land size). An ok choice for FHB. I would say August 2017 was not market peak but close. Based on my observation, the market of that part of Werribee only peaked around early 2018 between Feb to April. Now it has come of the boil for around 5%.