Top Melbourne public school zones hit $1.7m barrier

New analysis by PRD Real Estate reveals Melbourne families face a $1.7 million minimum price tag to buy a house in the catchment areas of top-ranked public schools. The data confirms that affordable housing options have vanished entirely from primary school zones, leaving only Seabrook and Point Cook below the Greater Melbourne median for secondary school access. These areas offer median house prices of $776,500 and $823,500, respectively, for Alamanda K-9 College. PRD Real Estate classified affordability based on whether median house or unit prices fell below Melbourne’s benchmark. However, schools like Glen Waverley Secondary College, Highvale Secondary College, Mt Waverley Secondary College, Balwyn Primary School, and Serpell Primary School now have no affordable housing options. Even units are scarce, with only five primary and 11 secondary school catchments offering median prices below the city’s benchmark. Dr Asti Mardiasmo, PRD Real Estate’s chief economist, noted that traditional family houses are increasingly detached from access to top public schools. She stated that securing a spot in a top 10 public school now often requires purchasing a unit within the catchment. For those insisting on a house, budgets must expand significantly, often exceeding Melbourne’s median house price. Ray White Mt Waverley agent Jacob Biviano confirmed buyers targeting schools like Highvale Secondary College, Glen Waverley, or Mt Waverley Secondary typically need $1.5 million to $1.7 million. Land values alone in central areas can reach $2 million or more, further limiting affordability. Biviano added that shrinking supply and tighter budgets have shifted market expectations, leaving fewer options for families aiming to enter these school zones.