Homes near a reputable school might cost more than £18,000 more than the typical English home. According to the most recent data from the Department for Education (DfE), costs are 8% more and 6.8% higher respectively near the finest primary and secondary schools.
Studies suggest that that a child’s prospects of success may be influenced by their parents’ income and the type of housing they can afford. This new analysis sheds light on the extent to which selection by house price is limiting access to the best schools for ordinary parents.
According property experts including estate agents in Winchester, the catchment areas with best colleges and school has significantly seen in rising property prices over the years.
Catchment areas
According to the most recent data, properties in London’s top 10% of primary schools would see a price increase of £38,800, compared to an average of £18,600 for homes in England’s top 10% of primary schools and an additional £15,800 for homes in the top 10% of secondary schools.
The locations with the highest returns are those surrounding primary and secondary schools that Ofsted has classified as “Outstanding.”
And there can be considerable competition for homes near the best local schools, especially when overcrowded institutions occasionally have admissions criteria that may advantage those who live closest.
Even though there is no set catchment area, there are frequently strong bidding wars near good schools because people don’t want to drive for hours and hours to watch their children play sports on a Wednesday night.
Keep in mind when searching that authorities have the authority to alter catchment area borders.
Spending money on the future
Many parents perceive paying a “school premium” as a long-term investment because it will benefit their children’s education as well as their own financial future.
Due to the fact that there will always be parents willing to pay more for their children, properties close to good schools frequently maintain their value in a difficult market and tend to sell more quickly if the market stagnates.
Although school run traffic might be a concern, these residences can also come with an appealing lifestyle and be found in vibrant neighbourhoods, making them popular with all buyers.
It’s also important to keep in mind that a change in the head teacher can result in a decline in the Ofsted rating of a school. A school’s declining performance to the extent where it loses its valuable Ofsted grade may have a detrimental impact on housing values.
Which should you focus on, the house or the school?
Which would you choose first, the house or the school? In the future, it might be necessary to relocate again if the house of your dreams is not close enough to your child’s school.
Both the house and the location must meet the criteria for a long-term, pleasant move. It may seem difficult to locate a property close to the best school, in a convenient location, and near transport options, but it’s worth working with your estate agent and remaining flexible. When moving, lifestyle is and always will be the most important consideration.
Hotspots for buying properties with the best schools around
Winchester
Nearly every school in Winchester is rated ‘excellent’ or above by Ofsted, and it serves as a hub for commuters, delivering you into London Waterloo in under an hour. Here are some renowned schools and colleges in Winchester:
Winchester College: Founded in 1382, Winchester College is one of the oldest and most prestigious independent schools in the country. It has a strong academic reputation and provides education for boys aged 13 to 18.
The Pilgrims’ School: Situated next to Winchester Cathedral, The Pilgrims’ School is an independent preparatory school for boys aged 4 to 13. It offers a high-quality education with a focus on academic excellence and pastoral care.
St. Swithun’s School: St. Swithun’s is an independent day and boarding school for girls aged 11 to 18. It has a reputation for academic achievement and offers a wide range of extracurricular activities.
Peter Symonds College: As a sixth form college, Peter Symonds College provides education for students aged 16 to 18. It offers a diverse range of A-level courses and has an excellent track record of academic success.
University of Winchester: The University of Winchester is a respected public university offering a variety of undergraduate and postgraduate programs. It has a strong focus on the arts, humanities, social sciences, and education.
These are just a few examples of well-regarded educational institutions in Winchester. Winchester’s strong educational institutions can be a significant factor in driving the demand for properties in the area.
Families often prioritize access to quality education for their children when choosing a place to live, and areas with renowned schools and colleges tend to be sought after.
As a property hotspot, Winchester experiences increased demand, which leads to rising property prices. The desirability of the area due to its educational institutions is creating a competitive market, particularly for properties located within the catchment areas of the best schools.