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Property market influenced by schools

The Victoria state government's proposals to cut internet funding for schools could deter parents from buying property in the area.

The recent announcement by the Victorian Association of State School Principals relating to fears that the government could cut funding for internet connections and IT in schools could have a knock-on effect within the housing market.




According to Ross Savas of Kay and Burton Real Estate, proximity to high quality schools is a major driver of expat and immigrant activity within the housing sector, as people relocate or return to Australia in order to provide a better education for their children, Property Observer reports.




Frank Sal, who leads the principals' group, says state funding for internet in schools is in danger of being cut or even removed completely after this year, which could deter many parents from buying property in Victoria and opting for other states instead.




Property experts are predicting a decrease in house prices in Victoria in the first quarter of the year, and any moves by the government which might jeopardise the standard of education in the state could have a further impact on this trend.



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