Sunday, 19 November 2017

Parents paying property premium

ACCORDING to Savills, which has a local office in Bell Street, one of the key catalysts driving housing

ACCORDING to Savills, which has a local office in Bell Street, one of the key catalysts driving housing demand out of London is the desire to buy a larger family home in an area that offers good schooling.

“Research we published last month indicates that affluent Londoners are increasingly looking to free up cash by exploiting the price differential between London and the country in order to facilitate a private education for their children,” said Stephen Christie-Miller, the head of Savills’ Henley sales.

“It also shows that, by contrast, a more cost-efficient option is to tap into the high-performing state school system, out of which the 164 grammar schools in England account for more than half of the top 10 per cent performing schools — measured by reference to GCSE results.

“Prices in the postcode sector of the best performing non-selective state schools is 25 per cent above the regional average and 14 per cent higher than the average of the local education authority in which they sit.

“In some locations demand is often driven entirely by a cluster of high-performing independent schools.



“There is no doubt this continues to help drive demand across Berkshire, Oxfordshire and Buckinghamshire — and our office has seen an increase in the number of London families looking to purchase.

“It also helps property, especially property near to good schools, retain their value and will assist in helping this value to grow.”

l If you’re looking for a family house within the catchment area of a renowned state school, or local to a well-respected independent school, enlist the help of Henley’s estate agents at www.henleystandard.co.uk/property/agents.php



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