15% price boost for properties near top-performing state schools
Property prices have risen faster in areas close to top-performing state secondary schools, new research shows.
According to figures released by Lloyds Bank, the prices of properties near top state schools have increased 15% more than the national average over the last five years.
It’s no secret that property buyers with children of school age are prepared to pay more to live near good schools – the same is true in Islington, Stoke Newington and Newington Green – but this research reveals a considerable premium of 36%.
House prices in the vicinity of The Latymer School, a well-regarded grammar school in north London, have experienced the highest growth – 59% – in the last five years.
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Lloyds Bank Mortgages Director, Andrew Mason, said: “Providing their children with a good education is a priority for most parents and is often on the list of key considerations for families looking to decide where to live.”
Though properties which sit within the catchment areas of good schools come with a premium purchase price, buyers can benefit should they decide to sell their property.
Though some families choose to move out of London for more space when their children are at school age, the many outstanding schools on the doorstep in Islington ensure there are always options for parents who want to remain in the capital.
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