Sydney parents spend $1m extra on homes to secure public school spots

Key points

• Sydney parents are paying up to $1.3 million more for homes in prestigious public school catchment areas. Research from property valuation firm Opteon shows homes in these areas sell at a 10 per cent premium.
• Anna Porter, a property valuer, says families are effectively buying access to these schools as part of the property package.
• The trend is also seen in Melbourne and Brisbane, with significant premiums for homes near high-performing schools.