Australian Families Paying Up to $1.3 Million More to Live in Popular School Zones: Report

While house prices in top school catchments are much more expensive, they can offer savings compared to paying high private school fees for young families.

Parents take their children to a primary school in Melbourne, Australia, on October 12, 2020. Daniel Pockett/Getty Images

Some Australian families are paying up to $1.3 million (US$860,000) in premiums for houses in top public school catchments, zones where enrolment is determined by residential address, in Melbourne and Sydney.

While these properties typically offer lower long-term capital growth compared to standard houses, they may offer a cost-effective alternative to paying private school fees.