New school for Brisbane State High catchment: What happens to home prices?
In a big news for the inner south today the State Government has announced a new high school will be built “to take enrolment pressure off Brisbane State High School”. It’s a long-awaited solution for the skyrocketing demand for BSHS.
As local agents we witness this daily – home buyers and tenants who move into the neighbourhood simply to qualify for the Brisbane State High catchment, that green line on the map creating some genuine gaps in home values and rents between adjacent suburbs. Why? It’s considered a great school, has a reputation for academic success and with such a huge student number it also has a very large extra-curricular program. And as a state school, it’s free!
For some years it’s been obvious the huge growth in dwellings in this area would create headaches for school enrolments. Kids do live in apartments in Brisbane – they have for many years and the trend appears to escalate.
So what of this new school and its impact on inner-south home prices and rents? The government’s so far being tight-lipped about location, but confirmed it’s likely to be within the current State High catchment. And that will no doubt mean realignment of the magical green line. Local home owners should watch this space closely as it’s hard to imagine the new school attracting the same demand as BSHS, and if their property falls into its new catchment there might be a notable shift in rents and prices.
Our punt? The new school might be sited in Woolloongabba or Dutton Park and the Brisbane State High catchment line would continue to include land-locked West End and South Brisbane. It’s only one theory and we’ll soon see what they plan.