Recent reports by Santander and Lloyds have revealed parents are more than prepared to up their budget for a property if it is within the catchment area of a top performing school, making homes in such areas a brilliant investment opportunity.
Santander’s survey results showed that out of the 4,000 adults that participated, 27% have either bought or rented a property with the aim of securing an address in the catchment area of an outstanding school. According to the research, families will pay an average 11% premium to move to their desired location. However, similar research by Lloyds suggests parents are actually prepared to spend an extra £53,000 to live in such areas.
The results show it’s clear that for a large number of parents, finding a home within close proximity to a good school is a must. So with this in mind, it’s definitely worth investing in property near these areas – particularly in the postcodes surrounding the top 30 schools in the league table. Thomas Telford School in Shropshire has been one of the highest performing schools for a number of years now – a full list of the 100 best-performing state schools according to the 2016 GCSE results can be found in The Independent’s education section.
Furthermore, according to Lloyds, in the postcodes surrounding the top 30 schools, property prices average at £366,744, which is 17% higher than the national average. Lloyds mortgage products director, Andrew Mason said, “schools with the best exam performance are proving to be an increasingly strong draw for home moves, as we’ve seen house prices rise sharply in locations close to such schools.”
Looking to invest in property near a good school? Call the Kingsley Hamilton Estates team today for expert property advice. You can reach us on 020 7078 0214, or via email at email@example.com.