Palaszczuk government's new state schools already boosting house sales

According to local real estate agents, news the Palaszczuk government would build two new schools has sparked a frenzy of parents hoping to get into the to-be-determined catchments.

“It’s a case of when something positive is announced like that people want to get in quickly,” McGrath New Farm agent Henry Hodge said.

Brisbane State High School is one of the highest performing and regarded public schools in Queensland, with parents going through great lengths to get their children in.

Families looking to renovate are also becoming more competitive in these areas, particularly West End, Mr Hodge said. He was marketing a 1920s character cottage on 721 square metres in Spring Street, and he said buyers were unusually competitive.

“It’s renovators particularly, with those long-term plans,” he said. “They’re buying it to hold so they can get into that school catchment.”

Mr Hodge said West End was already a war zone but New Farm and Fortitude Valley were fast becoming hot spots for hopeful parents.

“They were popular areas already; it’s a just a new level of popularity,” he said.

The new school in the Valley is already the talk of the town, Mr Hodge said. “I’ve started to see buyers asking when’s the school opening up up the road.”

The new catchment zones haven’t been decided yet. A Department of Education spokesperson also told Domain a final location for the new campus south of the river hadn’t been decided yet, either.

In the Valley’s case, Mr Hodge said buyers were taking a calculated risk.

“I think people are just assuming what was the old catchment would be the new catchment when it opens,” he said.

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Place New Farm agent Aaron Woolard said the emphasis placed on school catchments by buyers was sure to drive more sales in the Valley and New Farm areas.

“We don’t have a high school in the area,” he said. “New Farm state school is at capacity and those primary school kids don’t have anywhere to go. There’s a gap in this area for a high school and that will get people excited.”

Mr Woolard was marketing a Queenslander, currently being used as a commercial property, in Prospect Street, New Farm, and said the most interest was from families looking to remake the old cottage into a family home.

“We’ve had buyer interest from people renting in the area who are planning families down the track and [catchment zones are] one of the key things,” he said.