This is a case of a virtuous circle. Success feeds on success. Schools that already have good students and teachers attract parents who are very concerned about that and have the money to buy in to a place where their children will be well treated.
And because the school is a good one, that will push prices up in its area as so many people want in.
And a school with well-off parents will generally mean that the parents will be of higher IQ -- and high IQ parents tend to have high IQ kids, So that will keep the school results and standards up -- thus making the school and its area ever more attractive
Parents desperate to get their kids into a good public school have taken to sleeping in swags overnight in the hope of landing a coveted spot.
But it has never been cheaper to buy a house inside a sought-after catchment zone thanks to low interest rates, government incentives and flat house prices.
However competition is fierce, with one house in a sought-after catchment zone going under contract in less than 24 hours.
On Tuesday night, about a dozen parents camped outside the gates of Pimlico State High School, one of Townsville’s top performing schools.
The school, like many other top state schools in the city, is the subject of an Enrolment Management Plan (EMP), meaning the number of students accepted from outside of its catchment area is strictly capped.
Students living within the catchment zone are automatically guaranteed a place at the school.
A five bedroom fixer upper at 35 Latchford St was listed on a Thursday and under contract the following day, snapped up by a family with young children.
To put that in perspective, the median days on market in Townsville is 84, according to the latest data from realestate.com.au
Listed for $270,000 negotiable, it was sold by Sibby and Lucy Di Bartolo of John Gribbin Realty, with the contract due to settle today.
“There was a lot of interest in it, from first home buyers and families,” Mr Di Bartolo said.
“Buyers are keen to get their kids into that school (Pimlico) but the suburb also offers affordable houses.
“I wish I had 10 more like it because a lot of people missed out.”
A few doors down is 17 Latchford Street, a five bedroom Queenslander on a 971 sqm block.
It is listed with Julie Mahoney of Ray White Julie Mahoney and will go under the hammer on October 26.
One of its key selling points is the fact it is located within the school catchment.
“Being located in a good school catchment can be a huge drawcard for buyers,” Ms Mahoney said.
“And we have had huge interest in this property, mostly from families and young couples planning for the future.”