The good schools effect

According to research conducted by leading property agent Savills, results show that property prices around the top-ranked schools fell by just under 16 per cent over the past two years of the housing market downturn; whereas prices for homes near the bottom 25 per cent of schools dropped by more than 19 per cent. A seemingly modest yet significant difference in terms of house price falls.

These results were drawn from looking at all English secondary schools ranked by their performance (measured by average points scored per pupil at GCSE level), and then calculating the average price fall from the peak of the market in October 2007 to March 2009, for the areas surrounding each one.

The findings prove that parents don’t necessarily put the search for a good school on hold because of a poorly performing economy. As Savills research director Lucian Cook explains: “These areas have a house price driver that makes people move and fuels demand even in a property downturn.”

Ultimately, this is even more proof that access to a good school is undoubtedly a key, if not the most important, consideration for parents when deciding where to bring up their children.

For more information you can find the entire report at www.savills.co.uk/research