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The Real Estate Institute cautioned that changes in school registration zones in Auckland could lead to even higher prices in the areas affected.
The Ministry of Education has been working on a three-year plan for introducing or amending 135 school enrollment areas to help Auckland deal with increasing numbers of students.
Last year, the ministry worked with the first 60 schools in the admission areas and on 3 May, the beginning of term II, many of these schools started implementing their areas.
This move would not impact kids already enrolled in school, but would apply to new students. In certain families, younger siblings wouldn't be allowed to attend the same school as their older siblings.
A desirable school district has long been a key feature for many home buyers. Research by Chief Economist's Unit of the Auckland Council in 2018 shows that every additional decile contributed approximately $22,500 to the home price.
If any other factor were similar, a house in the 10-decile zone will sell more for approximately $225,000 than a house in a 1-decile zone across Auckland.
The Real Estate Institute has now cautioned against more pressure on prices under new enrolment schemes as families who are eager to secure houses in "healthy" school areas willing to pay more.
Wendy Alexander, Chief Executive Officer of Real Estate Institute said that the school area in which the property was situated also played an important role in the calculation as families looked for different characteristics, such as number of rooms or the proximity to public transport.
"We know from past experience that homes within a particular school area can sell for more than homes outside common school areas, and a difference of one street can literally mean a difference between hundreds of thousands of dollars in certain parts of Auckland."
According to data from the Real Estate Institute, medium house prices in the area of Auckland increased 18.5% over the previous year and reached a new level of $1.12 million in March.
Prices rose by 20.6 percent in Manurewa to $820,000, which includes six schools in which area improvements are scheduled for May 3.
According to Alexander, the price of houses in the area will continue to increase in the coming months, particularly as the number of housing developments in Auckland does not match demand.
"The school area in which is the home?" is one of the most popular queries real estate agents get, she said, apart from house information.
"This would be an even more urgent problem with the reforms introduced by the Ministry for more Auckland residents."
According to Alexander, the institute reminds agents to keep abreast of developments in the school areas so that prospective buyers can be properly advised.
Vanessa Taylor, a Realestate.co.nz spokesperson, said it was hard to quantify how school areas impacted local house prices, but that they saw benefit as vendors and brokers used the school zone for marketing.
"Parents can take every effort to make sure their children have more life opportunities and that, if they feel that a specific school can help them, they will play an important role in their home-purchasing decision."