24 Nov

NAEA: Good schools key in family homes sector

NAEA: Good schools key in family homes sector

School catchment areas will always be a key concern to any family looking to buy a property, the National Association of Estate Agents (NAEA) has said.

Research released in November by the Nationwide Building Society found that parents often placed a lot of emphasis on their child's education when selecting a new home.

Commenting on the survey, Peter Bolton King, chief executive officer of the NAEA, stated: "The same old mantra has come through within this research - location is extremely important to the home-buying public."

He added that investors should also consider proximity to good educational establishments when purchasing new properties, as it could impact on their value further down the line.

The Nationwide report found that the proportion of 11-year-olds achieving level four in their key stage two Sats tests had an effect on property prices.

According to the research, a ten per cent increase to the Sats pass rate at the nearest school will add an average of 3.3 per cent to the value of a typical house.

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