Investing in properties near the UK’s top schools

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Investing in properties near the UK’s top schools

Investing in properties near the UK’s top schools

More than a quarter of parents with school age children have bought or rented a property in order to get their family into the catchment area of a high performing school.

The figures were released by Santander and also revealed that almost a third of adults ditched their jobs in order to make a move close to a good school.

Miguel Sard, managing director of mortgages at Santander UK, said: “With competition for school places fiercer than ever, parents are making significant financial and lifestyle sacrifices to be within the catchment area of desirable schools.

“All buyers will have a wish list of what they want their new home to have and being within a certain school catchment is increasingly common amongst young families – but can often come at a cost.”

Santander’s study was mirrored by Lloyds, which found that homes near the top performing state secondary schools command prices that are £41,000 above their county average.

Giving children the best possible start in life is, therefore, an important investment factor for many buyers in the market.

Commuting

For London workers, for example, that means towns in the commuter belt come into their own to fulfil the needs of parent investors.

Homes And Property shows how High Wycombe, Chelmsford and Reading are attractive locations for this sort of move – with a strong proportion of high performing schools and close enough proximity to the capital.

These towns offer the sort of larger family homes with big gardens that are distinctly lacking in some London boroughs too.

Picking the right schools

In the Lloyds study Beaconsfield, near Wycombe, is shown to have forged such a strong reputation for its high school that properties in and around it are valued 186 per cent higher than the average in neighbouring areas.

The school is one of the top 30 in the country and consistently delivers top results. Parents looking to make an investment based on school catchment areas need to research and pinpoint areas such as these to guarantee they make the right choice for the future.

Moving near to a school that was rated as a good or outstanding by inspectors several years ago but is actually in decline could backfire badly when it comes to the education a child will receive and – in a cold, financial sense – also devalues the investment made in a home.

Conversely, purchasing a property near to a school that consistently delivers strong results will add security to a property investment – ensuring that parents will reap a strong return when their children have left school and they look to move on again.

Picking the right property

Of the people surveyed by Santander, 31 per cent of people actually moved to an area they did not like.

By recognising that education is a big factor underpinning a sound property investment, parents can act earlier and plan further ahead. Proper planning is needed to ensure that parents can spend time scouring property listings online so that they end up with a home that suits their needs too.

It is possible to invest in a quality home in a nice location that delivers top class education – a shopping list for many parents across the UK. Patience, planning and research are required to deliver this.

 

 

 

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