When Kiwis talk about the importance location, they’re not just talking about a pin on a Google map.

The concept of location is multifaceted and is influenced by a number of considerations such as a property’s proximity to amenities such as school zones, beaches, parks, shopping centres, transport links and employment opportunities.

Regional differences can be striking and could be shaped by economic and lifestyle trends. In recent years the emergence of remote working has increased interest in properties in scenic hotspots like Queenstown and Tauranga. It is important that would-be home buyers and investors understand the nuances of the ‘location, location, location’ mantra.

School zones can boost values

School zoning is a powerful influencer of property desirability and value, especially in major cities.

New data from realestate.co.nz based on research involving more than 100,000 properties over the past two years shows that Kiwis looking to buy a property in a zone for some of the country’s top state schools can expect to pay a premium of up to 90%.

Topping the list for school zoning property value impacts was Auckland’s Epsom Girls’ Grammar School, where in-zone homes commanded an average asking price of $2,451,406 (an 89.7% premium), compared to out of zone properties which had an average asking price of $1,291,619. Auckland Grammar followed with in-zone homes listing for an average $534,705 (a 35.1% premium) more than out-of-zone listings 

In Christchurch, properties in the zone for both Christchurch Girls’ High School and Christchurch Boys’ High School commanded significantly higher average asking prices (82.4% and 70.9% more respectively) than nearby properties that were not in the zone. 

However, the trend wasn’t universal among all schools. Wellington College and Newlands College in Wellington both recorded slightly lower average asking prices for in-zone homes.

Buyers should be aware that school zones can and do change. They should do their homework and check with the school and possibly the Ministry of Education for the latest defined zone before making assumptions.

A huge amount of data is available online to help buyers make informed location decisions. Websites like Quotable Value provide property valuations, sale histories and market trends data. Local council websites offer information on zoning regulations, infrastructure projects and natural hazard risks. 

Harnessing the local knowledge of your local Raine & Horne real estate professional is another step buyers can take to get to grip with location factors. Our expert agents can provide insights into market trends you might not be aware of, as well as information on neighbourhood dynamics, transport options, and expected but unrealised developments, as well as guiding you through the buying process.

Location will always be a defining factor in real estate. Whether you are buying your first home, upgrading or investing, understanding what makes a location desirable is key.

Whether you want to buy, sell or rent a property, don’t hesitate to contact your local Raine & Horne office.