Many factors influence demand for property in an area, and what price buyers are willing to pay. Each property should be valued in its own right. After all, the size, condition and shape of the property impacts on buyer demand and value. However, many external factors also influence what buyers are looking at.
As Camberwell property market specialists, we know buyer take many things into consideration. Local transport options matter, as does the availability of shops and entertainment options. However, it would be wrong to overlook the considerable importance of schools for potential buyers.
An area that has highly regarded schools will always be in great demand. This increase in demand often leads to property prices rising. However, many parents see this as a cost worth paying, if it provides access to well-regarded schools. If by moving home to an area with a well-regarded catchment area helps to give a child or children a better start in life, it is a sacrifice most parents are willing to make.
There have been various studies which prove schools impact house prices
While there is an intuitive connection between house prices and well-regarded schools, it is always pleasing to have this relationship borne out with facts and figures.
The Department for Education (DfE) carried out a study in 2017, and found property prices were 8% higher near the best-performing primary schools and 6.8% higher near the best secondary schools.
The BBC reported on this, with housing market specialist Henry Pryor saying; “At long last, the government is confirming what many people have known for years, that being near a good school adds to the price of a home. It is all about location, location, location. Good schools put up the price in the same way as high-speed broadband or being near a rail station. In some cases, people will choose to send their children to private school as the fees for doing so are less than the extra they would pay to be near a good state school.”
Not everyone views this relationship as a positive
The Minister of State for School Standards, Nick Gibb said: “With almost 1.8 million more children in good or outstanding schools than in 2010, more families are able to secure a good school place for their child than ever before. However, for too many young people their chances of success still depend on how much money their parents earn and where they can afford to live.”
Nick Gibb continued by saying; “This new analysis sheds a light on how far selection by house price is restricting ordinary parents’ access to the best schools. We want to end this unfairness and our proposals will create more good school places in every part of the country, so every child can have the excellent education they deserve.”
In 2019, the online comparison site Compare, created a guide based on the topic of buying property in a good catchment area. A spokesperson for the company said; “Buying a home near a good school is something parents start thinking about years before the time comes. But what they might not realise is how much this is going to cost them. We found that those looking to move near a school with an ‘Outstanding’ Ofsted rating could be paying almost £40,000 more than those rated ‘Good’, on average.”
We know the local market
If you are looking for primary schools which have been classed as “Outstanding” by Ofsted in and around Camberwell, you should consider Angel Oak Academy and John Ruskin Primary School and Language Classes.
The following Camberwell primary schools have been classed as “Good” by Ofsted:
· Bessemer Grange Primary School
· Brunswick Park Primary School
· Comber Grove School
· Crawford Primary School
· Harris Primary Free School Peckham
· Lyndhurst Primary School
· St George's Church of England Primary School
· St James the Great Roman Catholic Primary School
· St John the Divine Church of England Primary School
· St Joseph's Catholic Infants School
· St Joseph's Catholic Junior School
Both Ark All Saints Academy and Harris Academy have been classed as “Good” by Ofsted while Sacred Heart Catholic School has been classed as “Outstanding”. Therefore, you have plenty of options to consider when it comes to finding suitable schools in and around Camberwell.
Of course, depending on what your child likes, or what you hope they achieve in life, Ofsted ratings aren’t the be all and end all. Some schools have a reputation for sporting endeavour, while others encourage the arts. It is important parents consider what is best for their child, if they intend to buy a property based on the schooling on offer.
If you are planning on making a move in 2020, we are here to help. Anyone looking to sell their Camberwell home should contact us to arrange a property valuation. We are more than happy to take you from start to end of the sales process, and if you are looking for any guidance, please get in touch today.
