The impact of educational institutions on housing prices: a case study of Killara High School

Publisher:
The University of New South Wales
Publication Type:
Conference Proceeding
Citation:
Australasian Universities Building Educators Association (AUBEA), 37th International Conference: Proceedings, 2012, pp. 459 - 470
Issue Date:
2012-01
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This paper quantifies the house price premium associated with a leading public school in Sydney, Australia, Killara High School. Using the boundary discontinuity method this study compares sales data from properties on either side of a local enrolment boundary that divides a suburb in two equal parts. This controls for the effects of neighbourhood characteristics. Using a Hedonic index allows for a micro approach to investigating the impact of the school on house prices and finds, that for the suburb under study, homes located within the enrolment area are worth approximately 17.6% more than homes located just outside the boundary. The paper also explores the impact of the school's policy on out-of-area enrolment and the awareness and willingness of parents to pay for their children's education through house price premiums.
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