Here’s how living in a school catchment area can affect your asking price

News at Kings Group | 28/08/2019

If you happen to be selling a property that is suitable for families, it’s worth knowing what features matter most to parental buyers.

For instance, parents want to ensure their children get into the right school, meaning that being within – or close to – the catchment area of a good school is a top priority for many families looking to buy a property.

In fact, research from estate agent comparison site GetAgent revealed that homebuyers are paying 28.6% more than the average house price in the UK to live near a secondary school and 19.7% more to live near a primary school.

This essentially means that houses like these are very desirable and, in turn, often come at a higher premium.

Primary schools versus secondary schools

The study analysed house price values surrounding every primary and secondary school in the UK to look at the cost of buying close to a school and how premiums differ between primary and secondary schools.

It found that the average property price in postcodes containing secondary schools is currently £317,519 – that’s 7.4% higher than the average price for properties in postcodes with primary schools.

Interestingly, though, when comparing the best-performing primary and secondary schools, the difference in price is a significant 40.1%, with property surrounding top primary schools going for much more than those surrounding top secondary schools.

This demand for living close to good primary schools is not only because parents want their children to get the best start in life, but due to children being unable to travel to school alone. Therefore, living in the vicinity of a school is convenient and offers peace of mind to parental buyers.

How sellers can benefit from living in a good catchment area

As we can see from the above, many families seek catchment areas specifically to increase their chances of getting into their child’s preferred school. This is a major advantage for sellers living in such areas, as family buyers are probably more willing to pay a higher price.

So, when marketing your home, you will not only want to show the benefits of the property itself, but also point out the nearby schools that are sure to attract prospective buyers who are moving with children.

Parents are prepared to sacrifice a lot to give their child the best start in life and will go as far as moving home, meaning things like schools and amenities are up there with the most important aspects for prospective family buyers.

An efficient way to search for top schools

Here at Kings Group, our school search page, which is complete with an interactive map, allows parents to see the top local schools and their catchment areas, as well as properties currently available in those locations.

Our page shows local schools, their rating (from inadequate to outstanding) and the properties for sale in various school catchment areas. It’s free to use as many times as you want. For sellers, this is a great way to advertise your property (and the catchment area it sits in), while it’s beneficial for parents thinking about moving to an area because of a school.

Of course, we offer plenty more services for sellers in North London, East London, Hertfordshire and Essex. For more information on how we can help to sell your home, contact your local Kings Group branch today.

Additionally, to find out how much your home could be worth on the current market, why not request a free and instant online valuation today?