It is logical to anticipate that strong demand for housing located in suburbs with high performing NAPLAN schools would transfer into strong property values…but do the numbers agree?
The Par8o map and visualisation below identifies a sample of high performing NAPLAN primary and secondary schools located in Brisbane during 2023, and the housing market performance of the relevant suburbs.
In super summary, house price growth in Brisbane suburbs with high performing NAPLAN schools in 2023 (61%) outperformed the wider Brisbane LGA (56%) over the four-year period ending March 2024.
These numbers certainly would not surprise property buyers who have looked to purchase in the Brisbane suburb of Cannon Hill over recent years.
The outperformance of the Cannon Hill property market is believed to be ‘the price one simply has to pay’, to be located in close proximity to the high demand Cannon Hill Anglican College (CHAC) school.
This price to pay is what locals now commonly refer to as the “The CHAC Tax”.
