September 18, 2018
BACK TO SCHOOL
- The new school year is underway for over 10 million children across England and Wales and school catchments rate highly for many choosing a home. How much more are home buyers prepared to pay to live close to an Ofsted rated outstanding school?
- An analysis of property sales across England and Wales (excluding London) over the last year reveals a 10% price premium associated to homes close to an outstanding primary school and 17% price premium associated to an outstanding secondary school.
- Properties located within one mile of an outstanding primary school sold for, on average, £22,686 more than properties within one mile of other schools, the price premium for secondary schools was £37,558.
- Detached houses attract the largest price premium, with buyers here having to find an extra £90,000+ to live within one mile of an outstanding school.