UK Property Next to Top Schools Is Priced Higher
We have already reported that house prices near UK schools are higher than in areas more remoted from the most sought-after primaries.
Recently, PrimeLocation performed another survey to find out how the situation has changed. The company found out that in general, the prices are inflated by around 40%, but in some areas the difference reaches more than 150%.
In the opinion of PrimeLocation experts, such figures reflect the lengths to which parents want their children to go to top schools. A separate report showed that an average of 9 children are competing for access to top schools in the UK.
Commenting in the findings, Nigel Lewis of PrimeLocation, said: "It’s no surprise that parents are investing considerable amounts of money choosing a home that gives their child access to the best school possible. This demand has led to higher than average asking prices for homes in the most sought- after neighbourhoods, pricing many parents out of the area altogether."
It’s interesting to note that house prices near top London schools were less inflated than in other UK regions. PrimeLocation experts believe this is due to the fact that London houses are already overpriced.
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