The beginning of September has seen children return back to school across Lancaster, Morecambe and the rest of UK. Many have returned with excitement, some with slight trepidation – after all, most children have been away from school for almost 6 months.
What’s been interesting though, are the conversations we have both been overhearing, reading on Facebook and also having with parents. Many are concerned about school bus travel. Many would prefer it if their child could walk or bicycle to school.
Because of this our marketing team, along with our valuers once again discussed the difference in house prices living close to a top-performing school actually has.
Research shows that houses within the catchment of the top 10% of primary schools on average cost £27,000 more than those in the wider postcode district, a 7% premium.
Houses within the catchment of the top 10% of secondary schools on average cost £25,000 more than those in the wider postcode district, a 6% premium.
Now, of course, these figures are quite lofty as they are based on the average UK house price. Closer to home, in LA1 4 as an example – a 7% premium equates to just over £11,500 – which is still a considerable amount (the average price in this postcode is £164,767).
School catchments play a huge role in choosing a home. Property prices are also impacted by the performance of their local school.
If youa re thinking of buying or selling and live close to a highly regarded school, please get in touch. At JDG we are here to help!
Call us on 01524 843322