Musings of a London Property Search Agent

We’ve all heard about parents who use all manner of devious means to get their children into the right school and we’ve all know that parents will pay a premium to get into a good local state school. Working on behalf of the Halifax and using the Halifax House Price Index, Cranfield School of Management have come up with a formula measuring the price increase for property within the catchment area of good local schools.

The research published today shows that proximity to better performing schools ie schools rate which have higher pass rates with regard to the percentage of pupils who gain 5 or more GCSEs graded A* – C, boosts local property prices by 1% for every 10% increase in Greater London.

Not a huge premium then but people will pay a higher premium in areas where there are fewer ‘good’ schools, i.e. where the average pass rate for the area is lower. So if you are trying to sell a house in an area where pass rates are low, but you are within the catchment area of a top-performing school, then make sure your agent tells every single buyer!

Martin Ellis, Halifax Chief Economist, said:

“The research is significant in that it confirms the long held suspicion that living next to a good school adds pounds to the value to your home. In a time of falling house prices it’s important to be aware of the many factors affecting property value.”  This London Property Search Agent takes expert advice on schools in the area of any house of interest to a client.

Technorati Tags: good state schools, House Prices, London Property Search Agent, Property News, proximity to schools

Tags: good state schools, House Prices, London Property Search Agent, Property News, proximity to schools