Outstanding Primary Schools
As the new school term commences for nearly 8.8 million schoolchildren across England and Wales, many families are contemplating the importance of education in their property buying decisions. School catchments not only play a critical role in deciding where families choose to live but also have a surprising influence on property values and growth in the surrounding areas.
The Role of Outstanding Schools
Across England and Wales, approximately 4.3 million homes, constituting 17%, have an OFSTED-rated Outstanding primary school as their nearest. The availability of top-rated schools often factors into the decision-making process for families seeking a home.
For secondary schools, the catchment areas are generally larger, and the proportion of homes near an outstanding school increases to nearly 1 in 5.
Property Price Growth Near Top Schools
The catchment areas surrounding outstanding schools often see property price growth that exceeds other areas. Living close to a top-rated school can attract a significant price premium. The demand for properties in such locales is a reflection of the emphasis parents place on quality education for their children.
Understanding the Premium
Why is there such a premium on properties near outstanding schools? The answer lies in the perceived value of education. Families are willing to invest in locations that ensure access to the best educational institutions, believing that this investment will pay off in their children's future. The tangible benefits of excellent schooling translate into higher property demand and, consequently, increased property values.
The relationship between outstanding primary and secondary schools and the property market in England and Wales is a multifaceted one. With nearly 17% of homes having an outstanding primary school as their nearest, and even more for secondary schools, the influence of education on property choices is undeniable.
If you're considering purchasing a home and education is a priority, understanding the catchment areas and the potential price premiums associated with outstanding schools is essential. The investment in a home near a top-rated school may not only be an investment in your child's education but also in a property with strong potential for growth.
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Source: Dataloft, OFSTED, Ordnance Survey