For parents, the quality of local schools is an enormously important feature, with many actively choosing to buy in the catchment areas of good schools. After all, this makes getting your child a spot in the school much more straightforward.
As a result, homes in the surrounding areas enjoy something of a house price boost. According to a study this year by the Department for Education, house prices are 8% higher than average near the best-performing primary schools, while areas around excellent secondary schools boast house prices 6.8% higher than elsewhere.
That translates into a significant premium that parents will have to pay to buy in the area. For areas with good primary schools, it means an additional £18,600 on average, for example. Bear in mind that while this premium may be painful to pay, the fact that you have good schools nearby should make it much more straightforward when the time comes to sell and move elsewhere.
It’s important to remember that different schools will have different rules when it comes to catchment areas. So don’t commit to an expensive move unless you are confident your child will benefit from it.
Timing is also crucial. Schools will have certain dates by which parents need to apply for school places. As a result, it’s important that you conclude your move in good time, so that you can benefit from your new – hopefully attractive – postcode.
This will add pressure to your move though, particularly if you are part of a lengthy chain. Delays can be costly at the best of times, but missing out on a school application deadline as a result of them would be a disaster.
Fiaz Khalid, Head of Operations at LPL said about which area to buy a property: “All parents want the best for their children, and for some that will include the upheaval of a house move in order to improve the prospect of getting those children into a quality school. However, there will be a significant price premium to pay, while trying to complete the move in time for the new school year can be extremely stressful.
“With any house move where timing is important, it’s vital that you work with expert conveyancers like us who can ensure the transaction goes through as swiftly and as smoothly as possible. If you’d like more advice on this, you’re welcome to call our team on *PHONE NUMBER* and we’d be happy to help.”
