Parents will pay 12% more for a home near a 'good school'

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12 Sep 2017

Would you pay 12% more for a property near a ‘good school’?

Author: Antony Gibson

At a time when buyer and tenant price sensitivity is high, an area of the market which isn’t feeling the pressure of the summer slowdown is properties within the catchment area for ‘good schools’. Research from the Government and Santander has shown that parents are willing to make surprising financial and lifestyle sacrifices in order to secure their child a place in a ‘good school’.

A survey by Santander found that 58% of parents expect to move house before their children leave school and say catchment areas will impact their decision. With this increase in competition for properties in sought-after catchment areas, buyers are paying up to £25,000 more for these homes.

The report from Santander also found that 22% of parents who made this move admitted to financially over-stretching themselves. But the sacrifices don’t stop there –17% have changed jobs and a further 20% have downsized!

With property in London becoming more and more unaffordable, we are seeing a growing number of parents moving out of London and into South East towns with excellent commuter links and outstanding schools.

Antony Gibson, Sales Managing Director at Romans, comments: “Living near to a high performing school is a great benefit and, for some buyers with young children, it is a must-have.

Many families ask us to help them find a home in a certain catchment area years before their children even start school, to ensure they have the best chance to get in.”

To help you find your dream home in the right school catchment area Romans offer sellers a Home Finder Service, giving you the unique opportunity to access properties before anyone else.

Still looking for a new property in a specific catchment area? Register your details with your local Romans branch on 01344 985 666 and the team will send you details of any homes that match your requirements as soon as they come onto the market. 

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