Valued by association
While a good education can be invaluable for a student, new research has found that a good school can also have a marked impact on local property values.
Research done by UK property consultants Savills found properties located within the vicinity of “good” schools are attracting asking prices up to three times higher than their neighbouring counterparts. Due to the demand for good schools, homes that fall into the right catchment areas come with significantly higher than average asking prices.
According to the research, homes within the vicinity of the top 25 per cent of secondary schools can fetch up to 16 per cent more than properties outside the schools catchment area – up from 13 per cent in 2007. Furthermore, homes in areas with an amalgamation of good state and independent schools can be worth up to three times the county average.