Hertfordshire parents face 20 per cent premium to buy close to top primaries
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Hertfordshire parents looking to buy close to primary schools rated ‘outstanding’ by Ofsted can expect to pay a premium of nearly £60,000.
According to the latest figures from Rightmove, homes close to Grade 1 schools in the East of England typically sell for 20 per cent - £59,823 - more than those found to require improvement (Grade 3).
The average difference between Grade 2 (‘good’) and Grade 3 schools is £30,949 (10 per cent).
The average premium paid nationally to be close to a Grade 1 school is £52,372 – 18 per cent higher than the price typically paid for properties close to Grade 3 schools.
Harpenden has long been popular with families moving out of London and recently topped a poll - which also featured St Albans - of best commuter towns. Last year, Hertfordshire was named the best place in the UK to raise a family, coming seventh in a list of 138 local authorities for exam results.
Mark Rimell, Partner at Strutt & Parker’s National Country House Department, described Broxbourne as a particular hotspot for good schools.
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“It is one of the main reasons I see buyers snap up houses here,” he said. “The area attracts a lot of London buyers looking to the commuter belt for two key elements – the best schools and efficient transport links – and when the two collide there is a premium to pay as competition can be fierce.”
Mark adds: “Even for younger families, many plan ahead as to where they want their kids to go to school and will have the school league tables in front of them ready to strike while the iron is hot!
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“I moved my family from Clapham to Hertfordshire for this very reason; I wanted better schools for my kids with larger grounds that would ultimately give them a better quality of life. Certainly, if an area suddenly lost its Grade 1 status schooling, the area would be less desirable and therefore would negatively affect house prices.”