26/10/2007

Good schools a priority

A new survey from estate agency Savills suggests that access to good schools is important to 75% of families. Top performing Local Education Authorities (LEAs) tend to be split between those located in the more affluent London Boroughs, the Home Counties, the commuter belts surrounding other major cities and those maintaining a grammar school system. Such counties, the survey reveals, generally contain the highest proportion of top 25% performing state schools, although additional hotspots are identifiable. At LEA level, there is a positive correlation between educational standards at secondary school level and regionally adjusted house prices. The top 25% performing LEAs carry an average house price premium of just below 15%. At a school level, areas immediately surrounding the top 25% of secondary schools carry an average house price premium of 13% over the county average. The value of houses in proximity to the lowest performing 25% of schools average 90% of the county average. House price premiums are not universal. 58% of the top 25% of schools show house price premium. That premium exceeds 20% in 31% of cases.

For more information, see www.savills.com.

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