New Government analysis proves what we already know, that house prices near the best-performing schools are higher. This is the case in both primary and secondary schools and of course is nationwide, not just in Chiswick.
The difference is 8.0% in the case of primary schools and 6.8% in the case of the 10% best-performing non-selective secondary schools. This difference translates to paying an extra £18,600 for the average home if it were near one of the 10% best-performing primary schools and an extra £15,800 near the best-performing secondary schools.
Chiswick Schools - an
education guide to catchment areas and performance results.
Other key findings
• The value of houses near the poorest performing schools are lower than in the surrounding areas.
• The difference in house prices cannot be attributed to school quality alone, because this analysis does not control for other factors that affect house price. In addition, causality can run both ways: the children of better-off parents – who can afford pricier homes – are more likely to achieve the expected standards at key stage 2 and key stage 4 which we use as a proxy for school quality in the analysis.
So from this analysis you can conclude that prices are higher but cannot conclude that this is due to wealthier people moving into these areas. However the study gives a new perspective on the difference in house prices due to school quality, using three full years of house-price data.
Read DfE
research.
