It has long been established that good school places impact on house prices. Many parents and families are keen to pay a premium to ensure their child gets the best start in life.
However, a recent study from Trussle, an online mortgage broker, suggests parents ace paying an average of £195,9191 as a premium to live close to “Outstanding” homes.
Trussle studied more than 700 postcodes in England where there were schools rated as “Outstanding” by Ofsted. Schools in these areas held an average price of £446,919; which is close to £200,000 more than the average price for homes in England.
Of course, there are many factors which influence property prices. Also, if an area has a well-regarded school, it will likely have other features or benefits that shape property pricing too. However, it is an interesting piece of information for property buyers and vendors to be aware of.
There are many great schools in Peterborough
Fulbridge Academy on Keeton Road, Heritage Park Primary School on Park Farm Way, and The King’s (The Cathedral) School on Park Road, have all been recognised as Outstanding by Ofsted.
There is also a selection of local schools which have been recognised as Good schools by Ofsted. Some of the most highly regarded schools in the local area include All Saints’ CofE (Aided) Primary School on Dogsthorpe Road, Bishop Creighton Academy on Vineyard Road, Brewster Avenue Infant School on Brewster Avenue and Dogsthorpe Academy on Central Avenue.
Heltwate School and Highless Primary School have also been recognised as good options in the local area.
Miles Robinson, Head of Mortgages at Trussle, comments: “Recent reports suggest that buyers’ are prioritising space and access to green areas above all else since the recent lockdown. But, the increasing premiums of house prices near ‘outstanding’ rated state secondary schools clearly demonstrates that parents are still prioritising their children’s education above other factors. As a result, this continues to drive up prices near top schools and the premium on homes within these areas will be welcome for those already living there.”
Parents want the best for their children
At The Good Estate Agent, we know the importance schools play for buyers, and in the local housing market. We also know which schools are in high demand in Peterborough, and the impact this has with respect to areas.
If you are looking for informed guidance and advice on the local market, please get in touch and we will be happy to help. We appreciate that an article about rising house prices in areas of good schools isn’t what every buyer wants to hear, but it is possible to find great value for money. This is something we deliver locally, and it is something that can happen across the country.
This is further explained by Miles Robinson, who said; “However, purchasing a home near a good school doesn’t mean you need to necessarily pay above the odds. The most expensive homes near top-rated schools are of course in and around the Capital. What’s more, there are a huge number of areas across the country that offer competitive prices against the average cost of a home. And so, for those who might be willing to consider relocating, there are still opportunities to secure a dream home that will also put your child’s education first.”
Whatever your circumstances are, or what move you would like to make next; we are here for you. The Good Estate Agent prides itself on offering the best standard of service to our clients, and we work hard to help you achieve your property goals. If you would like to arrange an appointment or get more details on how we can help you sell your home, contact us today online or by calling us on 0330 223 0670.