Rising house prices near schools: a double-edged sword?02 May 2017, by Education News, Free Schools, General, Latest News in
Further to our recent piece highlighting the social and commercial benefits to housing developers of early planning in relation to education, a study quantifies house price premiums in the catchment areas of ‘Outstanding’ and ‘Good’ schools.
According to the first study to use school catchment area data by Rightmove, some parents are willing to spend up to 32% more for a property within the catchment area of an ‘Outstanding’ primary school, paying an average premium of £52,000. Some of the primaries included in the data had catchment areas extending fewer than 200 metres from the school gates.
While generally met with concern, the correlation between good schools and rising house prices can provide a benefit to communities and not just housebuilders, estate agents and vendors. This piece from New Zealand illustrates how the opening of new schools can help regenerate areas with more affordable housing.
Perhaps more contentiously, The Spectator argues that a more even geographical distribution of new grammar schools, accessible by those living in the most deprived areas, could play its part in removing the ‘postcode lottery’ of education. Indeed, the average rise in house prices near the best-performing schools cited by the BBC likely to arise from the establishment of a high-performing school is considerably more than many people pay for private tuition for the 11-plus exam. Of course, this is little comfort to parents who can neither afford tuition fees or to move nearer to a better school.
So, does the answer to fair access to the best state schools have to be ‘random allocation’ as has operated across a number of schools in Brighton for over a decade? However, this system doesn’t appear to be the panacea as, even after such a long period to study this initiative, results are still inconclusive in terms of the ‘social mix’ element of the plan and the number of parents voicing their discontent.
The link between house prices and good schools is now well proven* and the business case for considering schools at the outset of any development is as sound as the social case. The more that is written on the subject the more that is suggested that schools above many things can be the engine for social change that could rejuvenate an area.
Premier New Schools is already working with a range of small and large organisations to set high-quality education at the heart of developments, helping answer questions such as:What does the development require in terms of education?
– What does the development require in terms of education?
– What is the likely demographic profile of the community within the new development?
– What opportunities exist to collaborate with the existing education estate?
– What are the demands of the local labour market?
– What are the best approaches to bring about new education provision and hard-wire its success?
Putting education in the vanguard of a new development is the right thing to do – it also happens to be good business.
Premier New Schools is currently working at the forefront of education delivery both as consultants and active members of high-performing maintained schools and academy Trusts. To find out more, contact Tom Legge or Charlotte Pearce Cornish on 0345 459 7600 or email: firstname.lastname@example.org.
*Additional related news stories: