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Top primary schools put £100,000 on value of nearby homes
Sri Carmichael, Consumer Affairs Reporter26 Nov 2009
Parents desperate to get their children into top state primary schools are sending house prices soaring by up to £100,000 in some catchment areas.
Many middle-class families are turning their backs on fee-paying private schools during the recession and looking for good, free alternatives. In London's “nappy valleys” — such as Wandsworth Common, Queen's Park, Lauriston Village and Dulwich — a home just inside a sought-after intake area can cost tens of thousands more than a similar property just outside.
Estate agents told the Evening Standard that the presence of good state schools had protected areas from the housing market slump — as paying an extra £100,000 for a house is cheaper than a private school in the long run.
A four-bedroom home with two receptions and two bathrooms in Dault Road, Wandsworth, is in the catchment area for Allfarthing School, which had a 93 per cent Sats pass rate in science last year. It is on the market for £850,000.
A comparable property half a mile away in Fullerton Road, which is just outside the intake zone, is being marketed at £750,000.
This week, a Nationwide Building Society study found that schools where every 11-year-old passed their Sats exams boosted house prices in their areas by thousands of pounds.
The survey found that in London, for a 10 per cent rise in the number of pupils getting a level 4 in Sats, £8,000 was added to house prices. For prime family homes near schools achieving more than 90 per cent pass rates, that premium soared.
Robin Chatwin, of estate agency Savills Wandsworth, said: “We have properties that are receiving huge interest from families who specifically want their children to go to Allfarthing. For a house in a catchment area it adds an additional 10 per cent to the value, at least.”
Lucian Cook, head of research at Savills, said: “The influence of well-performing schools on house prices has actually increased over the last two years. It remains a significant driver for house sales and continues to be relevant for buyers even in a downturn.”
In Dulwich, estate agency Ludlow Thompson said being in a good catchment zone could typically make a £50,000 difference to house prices.
Director Stephen Ludlow added: “The competition for family homes in the right catchment area can be fierce. This year the problem is particularly acute as the credit crunch means that families who might have sent their child to a private school are now competing for the best state schools. Demand for houses is pushing up prices even more than in previous years.”
His firm recently sold a two-bedroom house in Landcroft Road for £400,000. It is in the catchment area for Ivydale primary school, where pupils scored a 93 per cent pass rate in science Sats. In Nunhead Grove, just over a mile away, a similar two-bedroom house is under offer at £320,000.
In a much sought-after part of Hackney, north of Victoria Park, an agent at Keatons said people would pay a premium of up to £40,000 for a family home close to Lauriston primary school. It is one of the best in the borough and has a catchment area of only a couple of hundred yards.
Reader views (4)
Mark,
It can only be a good thing for all of the Nunhead/East Dulwich area when the quality of school provision on offer improves as much as it has over the last few years. I still remember when Heber used to be in special measures and now, as you point out their SATs results are great.
As a church school it is also expected for demand for places at St Anthony's to be "scary" and outstrip supply, because they only admit practising Catholics and so while it is an excellent school, it is still inaccessible to many children applying for places in the area who then have to look elsewhere.
The picture book idea was started by a group of parents. No school money was used to fund it, and instead was raised by parents in collaboration with local businesses, authors and artists.
East Dulwich may consider themselves to be trendy, but we Nunhead folk are more artistic!
- Ann, london SE15, 27/11/2009 14:02
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Ann,
The point of my post was to correct the apparent inaccuracy of the penultimate para. of the article i.e. that it would be likely that a home in Nunhead Grove would be more expensive than a house a mile away!
You did say "in what other primary school would all the children, parents and teachers create their own picture book which was published and given out to all the children".
The answer is any who feel that's a good use of their resources.
The competition for places at the schools I mentioned is scary, particularly at St. Anthony's!
The other point the article overlooks is that many people see East Dulwich as a bit more up-market/trendy than Nunhead and think even way back when we was considering moving from Walworth back in the early '90s homes were generally more expensive than Nunhead anyhow.
- Mark, South-East London, 27/11/2009 11:56
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What sets apart Ivydale School and has lead to their nursery and Reception's huge waiting lists is their strong creative curriculum - fantastic music, art, science, Early Years, ICT and brilliant literacy - in what other primary school would all the children, parents and teachers create their own picture book which was published and given out to all the children, and has now been turned into a drama production. The nursery even has chickens!
I am certainly not knocking those other schools mentioned but there is a reason why so many parents now want their children to attend and one of which is Ivydale's holistic, creative approach.
- Ann, london SE15, 27/11/2009 10:37
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Landcroft Road (SE22) serves Heber, Goodrich and St Anthony schools but is not in the catchment area for Ivydale, which is a mile away. Nunhead Grove (SE15) is virtually adjacent to Ivydale (SE15) and falls within its catchment area.
The Sats results for the schools mentioned below, which suggest that Ivydale is not doing as well as the scholls around Landcroft Road.
Heber Eng. 83% Maths 87% Sci. 83%
Goodrich 90%, 79%, 91%
St. Anthony's 97%, 97%, 97%
Ivydale 80% 74%, 93%
- Mark, South-East London (SE22), 27/11/2009 09:30
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