Graph Of The Week: The Price Of A Good School
Ok, this won’t come as a big surprise to parents: a property close to a good school will cost a whole lot more than one close to a … not so good school.
But how much more? Savills have crunched the numbers and concluded that:
- Homes in the vicinity of the top-performing 25 per cent of secondary schools now cost 16 per cent more than their county average, up from 13 per cent in 2007.
- At the extreme, homes in areas with a combination of good state and independent schools can be worth two or three times their county average.
The results are much more dramatic at suburb level than at town level.
House prices in first placed suburb Altringham are more than twice the average for Greater Manchester, while those in Hallam in Sheffield, Clifton in Bristol, and Solihull and Sutton Coldfield in the West Midlands all outstrip their metropolitan authority average by more than 50 per cent.
(Ps: I know this is a table, not a graph. There is a graph in the Savills’ report, but it will make your head hurt.)