According to a recently published study, properties located close to the best schools in the country are likely to have seen their value jump by 40% during the last five years.
This increase is equivalent to an average of £116,696, which is far more than the country’s average rise of 22%, or £51,624. The research indicated that buyers will pay £415,844 on average, to live close to one of the top 30 secondary schools in England. The comprehensives are ranked according to GCSE results, which means that buyers are willing to pay £128,615 more than the average property price of £287,229.
The research, conducted by Property Reporter, revealed that the highest premiums being paid for homes close to a top performing school are in Buckinghamshire, near Beaconsfield High School, at £643,181. However, a number of the top 30 schools in England are in areas where property values are lower than the area’s average. Homes close to Kendrick School and Reading School, both located in Reading, are 32% lower than the county’s average. This is the largest discount to be found for a home close to a top performing school.
If you do not live close to one of the country’s best schools, you can still take action to increase the value of your property. You can also make sure you secure the most cost effective mortgage for your circumstances by consulting a CeMAP qualified mortgage advisor.
