Good schools improve property prices


Wed 15th Oct, 09:34:28 BST

Parents are willing to pay a premium for a property in the catchment area of a good school, according to new research.

Mortgage lender Halifax has found that being close to a good state secondary school can add up to 12 per cent to a property’s value.

Ralph Shalom, of Bairstow Eves in Northway, told the Scarborough Evening News: "People are prepared to pay a bit extra for a home in the catchment area of a good school."

"Even people with babies are thinking ahead – the nearest school is a factor even before the children reach school age," he added.

Martin Ellis, a spokesman for the building society, told the paper the research confirms the long-held belief that living near a good school increases the value of a home.

In related news, Countryside properties can command an extra £20,000 on the market, according to different research from Halifax.

Carry out a house price search.ADNFCR-1143-ID-18826803-ADNFCR


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