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Homework and House Prices

It stands to reason that living near a good school can be of great benefit for families with children. But did you know it can benefit property sellers in the area too?

Due to an increase in school admissions owing to the high birth rate in the 2000’s, the challenge to get children into the best schools is becoming ever more competitive.

It is not guaranteed that you can simply apply for a space in your preferred school and be successful. Factors including your home address matter a great deal. Families may have to relocate within their desired school's catchment area just to be in with a chance of securing a spot on the register.

Because of their popularity, homes within catchment areas of the best schools can command a higher value than those just outside such areas.

New figures from the Department for Education (DfE) show that prices are 8% higher near the best performing primary schools and 6.8% higher near the best secondary schools.

These impressive figures mean that sellers could see good return on their property investment if they decide to move.

So-called empty-nesters, retirees and couples often make the decision to sell their well-located homes to benefit from this increased value.

With a wealth of highly sought-after private and state funded schools on our doorstep such as The Gryphon School in Sherborne, Millfield School in Street and Willand School near Tiverton, surrounding house prices in multiple pockets of the West Country are very healthy.

As well as the benefits of increased value, the demand for houses in these areas also results in a high rate of successful sales. Buyers will be extremely committed to seeing the sale through to completion which means more good news for vendors.

Want to know if this affects the value of your home? Contact your local GTH office to book a free, no obligation market appraisal.

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