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Catchment area can increase prop value
ioscorpio
Posts: 2,364 Forumite
copied from https://www.themovechannel.com
20 July 2005
Doing the maths on good school locations
Top grades at a local comprehensive can double the rate of increase of the value of property if it’s within the catchment area.
The amazing revelation comes from property website, Hometrack who analysed property price changes in the catchment areas of the ten most improved state schools in England since 2001.
In total the average property prices in the ten catchment areas has soared by 76% since 2001, in stark contrast property prices have only increased by 39% in the immediate surrounding areas.
However in some areas, property prices have soared by a staggering rate in excess of 120%, such as the area in close proximity to Waverley School in Small Heath, Birmingham.
Graph showing the percentage increase in property values from 2001 to 2005 inside and outside the catchment areas of the most improved schools
See website
Analysis of properties in the close vicinity of the top ten schools in the Department of Education and Skills list of the 100 most improved schools reveals that the average property price has increased by £64,986 since 2001 from £95,670 to £160,656. By comparison, property prices in the surrounding areas have only increased by £38,296 since 2001.
The most marked difference in the value of average properties inside and outside the catchment area can be seen at Sir John Cass Foundation and Redcoat Church of England in Stepney Way in London where property prices have increased by £77,718 inside the catchment area and in comparison a meagre £23,300 outside the catchment area – A staggering £54,418 difference!
The North School in Ashford in Kent, which tops the poll of most improved school, has seen the greatest value added to the average home in the catchment area, with an increase of £88,427 since 2001. The average property is now worth £180,388.
Mark Witherspoon, managing director of Hometrack comments: "It is widely known property prices within a catchment area of an established top state school are often inflated, however schools that may not be top of the list but are fast improving are also making a big impact on the housing economy."
"Perhaps during the run up to this years’ school exam results it will not only be the parents and children anxiously waiting to hear the results, but local residents who may be set to reap the rewards from the success of their local comprehensive."
Table showing the value of a property and % increase in property prices in the catchment area and surrounding areas of the most improved schools in England from 2001.
See website
20 July 2005
Doing the maths on good school locations
Top grades at a local comprehensive can double the rate of increase of the value of property if it’s within the catchment area.
The amazing revelation comes from property website, Hometrack who analysed property price changes in the catchment areas of the ten most improved state schools in England since 2001.
In total the average property prices in the ten catchment areas has soared by 76% since 2001, in stark contrast property prices have only increased by 39% in the immediate surrounding areas.
However in some areas, property prices have soared by a staggering rate in excess of 120%, such as the area in close proximity to Waverley School in Small Heath, Birmingham.
Graph showing the percentage increase in property values from 2001 to 2005 inside and outside the catchment areas of the most improved schools
See website
Analysis of properties in the close vicinity of the top ten schools in the Department of Education and Skills list of the 100 most improved schools reveals that the average property price has increased by £64,986 since 2001 from £95,670 to £160,656. By comparison, property prices in the surrounding areas have only increased by £38,296 since 2001.
The most marked difference in the value of average properties inside and outside the catchment area can be seen at Sir John Cass Foundation and Redcoat Church of England in Stepney Way in London where property prices have increased by £77,718 inside the catchment area and in comparison a meagre £23,300 outside the catchment area – A staggering £54,418 difference!
The North School in Ashford in Kent, which tops the poll of most improved school, has seen the greatest value added to the average home in the catchment area, with an increase of £88,427 since 2001. The average property is now worth £180,388.
Mark Witherspoon, managing director of Hometrack comments: "It is widely known property prices within a catchment area of an established top state school are often inflated, however schools that may not be top of the list but are fast improving are also making a big impact on the housing economy."
"Perhaps during the run up to this years’ school exam results it will not only be the parents and children anxiously waiting to hear the results, but local residents who may be set to reap the rewards from the success of their local comprehensive."
Table showing the value of a property and % increase in property prices in the catchment area and surrounding areas of the most improved schools in England from 2001.
See website
0
Comments
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this is what we have been saying on this board for months, ref school catchment area and house prices nice to have it confirmed.my bark is worse than my bite!!!!!!!!0
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