QM Properties have announced the release of the latest stage of their highly popular Sunshine Coast residential development, Doonella Noosa.
The development has been a great success with buyers, which can be largely attributed to the estates proximity to key education hubs.
“We are aware that the ‘education factor’ is a strong drawcard for buyers, particularly in estates that are tailored for growing families, such as Doonella,” said QM Properties Sales Manager Damien Ross. “However with Doonella, the effect has been off the charts.”
“Approximately 50% of the enquiry we’ve received has been related to the convenience of having two primary schools – one private and one public, as well as a childcare centre, housed within the estate”.
Property analysts have been measuring and studying this ‘education factor’ since the 1950s in the United States of America, the United Kingdom, and now in Australia.
All the literature confirms that there is an additional dollar and pound value that can be placed on residential property when it is within the catchment of a top school. The analysts note that the closer the home to the school, the higher the value.
A 2014 study by Duke University’s Economics faculty in South Carolina showed that property was valued up to 12% higher in primary schools, 3% in middle schools, and 19% in K-12 schools.
“The reason for this is that parents have made the decision to move into the area of a good school and put the money into a property there rather than pay private school fees,” said Damien.
Closer to home, an RMIT University study in Victoria this year estimated that a top school zone can add an extra $165,000 to a home in Melbourne. RMIT looked at parents in Balwyn and Camberwell, which are both top secondary schools that restrict entry to a catchment of local residents.
The report found that parents who bought in these areas had a ‘borderline obsession’ with getting their children into the best schools. Property commentators and social scientists have long known about this trend, but this is new Australian research carried out this year.
“With private school fees increasing, better performing public and less expensive convent schools will come into the fold,” said Damien.
Report co-authors and property valuers, James McGrath and Oliver Evans, predicted that the influence of school zones would only increase.
“Already we have 58 names of registered buyers all waiting for us to commence sales in the latest stage,” said Damien.
This new stage is comprise of 66 block, ranging in size from 600 – 1,250 square metres and will be priced from $280,000.
“Our buyers have been evenly divided between Sunshine Coast locals from the southern end of the coast and sea-changers from Brisbane, Sydney, and Melbourne.” he said.
Andrew Simmonds and his wife Prue are about to move into their new home at Doonella Noosa.
They have realised their dream of living and working in Noosa after relocating from Buderim. Their three children will be attending St Teresa’s and St Thomas More schools, as well as enjoying being part of a coastal community.
“The proximity to schools was a big factor, as well as having a new home,” said Andrew. “And the girls are in Nippers at Noosa, so it was all part of an important lifestyle decision.”
The buyers are also attracted to the unusual combination of bush atmosphere, no through roads or traffic, and close proximity to infrastructure in Noosaville.
Doonella Noosa is a rare, secluded pocket of large blocks that are all surrounded by original rainforest.
Lake Doonella, which borders the estate is part of the pristine tidal water system of creeks, estuaries, and lakes that flow into the iconic Noosa River.
The development offers buyers a lifestyle surrounded by parks, walking trails, wildlife and bushland that only a few minutes’ drive to Hastings Street and Laguna Bay. Even closer, within walking distance, is the restaurant hub of Noosaville and Noosa Civic shopping precinct.
It is an eco-friendly planned community with designer homes harmoniously integrated into the lush rainforest. The large residential blocks and cleverly designed streetscapes ensure complete privacy for families.
But Doonella Noosa still offers a sense of community for the residents choosing this alternative to city living. There is a colourful children’s playground, sign posted walking and cycling trails, an organic community garden and outdoor meeting space for residents to gather socially.