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Homes near top schools worth £20,000 more

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by David Masters

Being near a top performing primary school in England can add as much as £19,500 to the value of a home, research by Nationwide Building Society has found.

Houses near a school where every 11-year-old achieves at least a level four in their Sats exams are worth 11% more than average, Nationwide discovered.

However, just 2.4% of primary schools in England achieve this 100% pass rate.

A 10% increase in Sats pass rates at a primary school adds an average of £5,960 to the value of nearby houses.

“One might expect that families would prefer to live near high performing schools and be willing to pay a premium for this,” said Martin Gahbauer, Nationwide’s chief economist.

“The extent to which primary school performance affects property prices will depend upon the range of schools in the area,” he added.

Nationwide pointed out that factors other than nearby primary schools, such as a loft conversion or extension, can add even more to the value of a typical home.

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News posted: November 26, 2009

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