Property Premiums of More Than £200k for top London Schools
LONDON, October 10, 2011 /PRNewswire/ --
Living in the catchment area of the top 10 primary schools in the Capital commands a property premium of more than £200,000, according to new research from Hamptons International.
The research, conducted by Hamptons International in conjunction with leading property website http://www.propertywide.co.uk, compared concentric circles around each school taking two measures:
- All properties up to half a mile from the school (assumed to be properties within the catchment area)
- All properties between half a mile and one mile from the school (assumed to be properties within the same area but outside of the catchment area).
The research highlights that the average asking price of a London property within half a mile of London's top 10 schools is £972,000, compared with £802,000 for property situated between half a mile and a mile - a premium of 21 per cent.
The highest premium paid was for the second ranked primary school in London - Hampstead Parochial Church of England Primary - where the premium was more than £650,000, or 36 per cent higher than other property.
Marc Goldberg, Head of Sales at Hamptons International, commented on the findings: "Property situated within the catchment area of the Capital's best schools has long been a sought after commodity. While at first glance, a £200k premium appears costly, for many London families, this can be a more cost effective option in the longer term than paying expensive school fees: London properties within these catchment areas will always be in demand and homeowners can be confident they will see their money returned when they eventually come to sell."
Adam Challis, Head of Research at Hamptons International, added: "This research shows the positive impact of good local schools on house prices. Government needs to be careful that a policy of choice is not simply perpetuating a class divide between those who can afford these premiums and those who can't."
Note to editors:
- The average property prices were taken from propertywide.co.uk and use data from August 2009-August 2011
- The Top 10 Schools data was taken from the Department for Education 2010 League Tables
About Hamptons International
Hamptons International is one of the premier international residential agents offering an extensive portfolio of UK and international property. Services include sales, lettings, residential developments, property management and mortgages.
With more than 140 years' experience, Hamptons offers unrivalled expertise and service in its market. Hamptons is headquartered in London and currently has an international network of over 85 offices. The company continues to expand both locally and internationally, positioning it as one of the most valuable residential property groups in the world.
For media enquiries please contact:
Aisling Gray, Senior PR Manager, Hamptons International
32 Grosvenor Square
London W1K 2HJ,UK
Phone: +44(0)20-7758-8488;
James Robinson +44(0)1908961000
SOURCE Hamptons International
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