3 Aug

Houses for sale in catchment areas 'worth lot more'

Houses for sale in catchment areas 'worth lot more'

Homeowners have been encouraged that their houses for sale could be worth a lot more if they are in a school catchment area.

According to Selwyn Lim, director at Mouseprice, people expect to pay a substantial premium for their properties if there is a good school nearby.

He said that if location makes a significant difference to where their children go to school, parents are often willing to up their budget.

"It just goes to show the value that some parents do put on education," Mr Lim added.

This comes after Nationwide reported that people are prepared to spend up to £8,670 more for a house for sale in a good catchment area.

It also reported that a ten per cent increase in the Sats pass rate at the nearby educational facility could increase property prices by an average of 3.3 per cent.

Mr Lim stated that paying a premium of up to 4.6 per cent for these properties is not that much of a financial burden if you divide the cost per child per year.ADNFCR-1222-ID-800011406-ADNFCR

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