Houses 'cost more' in school catchment areas

Posted: 13 Sep 2010 10:06:21 GMT

Brits looking to buy a house may be interested to hear the comments of one expert who claimed school catchment areas can make a huge difference to house prices.

Nigel Ellis, director of Pickle and Ellis, explained in Muswell Hill and Broadway the cost of a dwelling could differ between £100,000 and £200,000 depending on whether it is within a short distance to an education facility that has done well in league tables.

He noted many buyers do not think of how near a decent school is when purchasing property until they have kids and are deciding what academic institute to send them to.

"The way the market has been over the last couple of years in terms of houses, is that there has been a bit of a shortage," Mr Ellis added.

He observed domiciles have retained their values despite their location, but those not in the vicinity of a decent school will be worth less than abodes that are.

According to a recent report by Nationwide, parents are prepared to shell out an extra £8,670 for a dwelling near to a good school.
 

© Houseladder Ltd