Having a bilingual primary school in your neighbourhood could boost the value of your house by nearly nine per cent.
Researchers from Deakin University tracked house prices for two years in Melbourne where Brunswick South Primary transitioned to become Victoria’s first Italian bilingual school.
Their findings showed that once the school changed, house prices in the catchment area increased by up to nearly nine per cent.
The university’s Dr Kang Koo said property prices are influenced by high performing public schools, but until now the impact of bilingual schools has been a mystery.
“This study adds further weight to the evidence that parents are willing to pay more to access a better education for their children, not just based on results but also on the type of education that’s offered,” Dr Koo said.
“For many parents, the advantages of a bilingual education – improving memory, strengthening problem-solving skills and enhancing creativity – provide an overall positive education experience that’s worth moving house for,” he said.
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