Wednesday, 22 March 2017

What is the link between house prices and schools?

Do houses close to the best performing schools cost more?

Yes according to research released this week by the Department of Education.
According to the report 'The average home in England cost £233,000 in July 2016. If the average home were in an area close to one of the 10% best performing schools, this is holding other factors constant, £15,800 higher when close to one of the bestperforming secondary schools and £18,600higher near the best performing primary schools'

This reiterates earlier reports.

in 2016 Lloyds Bank research found that the parents they surveyed were prepared to pay £53,000 to live near a 'top school'.

In 2015 the Telegraph published a map prepared by Savills which showed where the top schools were causing house prices to rise.

from the LSE Centre for Economic Performance. These are summarised with links on this blog posting.

Sources of House Price data

The UK Land Registry publishes official UK data UK House Price Index

Price Paid dataset

Nationwide House price Index - from leading mortgage supplier.

Halifax House Price Index

Free access to reports on residential property markets from Savills

IMF Global House Price index and housing prices research

Remember those who cannot afford a home

Crisis and the Joseph Rowntree Foundation has just released the annual 2017 Homeless Monitor for the UK which shows an increase over the last few years.

On a world wide scale consult data from UN Habitat. The most recent World Cities report records a decline in affordable housing and a rise in slum dwellers.

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