Homes that are based in areas where there are high-achieving schools provide a better
property investment, recent results have revealed.
The figures from Savills apply to secondary education establishments, with properties said to achieve 16 per cent more in value in such locations compared to their county averages.
Lucian Cook, director of Savills Research, says: "On the face of it these are not massive differences, but they're significant … a 21.5 per cent difference in the size of the price fall between houses near the most successful schools and those near the worst performers."
During the credit crunch property prices have fallen, but when comparing the drop in percentages for the top 25 per cent of schools to the bottom 25 per cent performing schools the properties in the area of the better schools got three per cent higher value for their homes.
Mr Cook added that the findings prove that getting a good education has an effect on how much a property in the locality costs, therefore gaining an affordable home.
Savills was established in 1855 and now has more than 200 offices in Europe, the Americas, Asia Pacific, the Middle East and Africa.
See Also: Property News (6680)
Date Published: 04 November 2009
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