Forest Hill - Importance of Schools For House Prices
7th August 2019 posted in Sellers
When you sell your home, the value of your house is critical. You must do what you can to improve the value of your house, and to make it as appealing as possible to prospective buyers. However, no matter what you do to enhance the value of the property, there will be external factors that shape the value an agent places on the house.
The presence of well-regarded local schools is an issue that shapes the property market. No matter what you do with your home, the value may be affected by local schools and the demand from parents to place their children in these schools.
Forest Hill primary schools are well regarded
Dalmain Primary School received an Ofsted rating of Good when it was reviewed in May of 2019. This primary school in Grove Close is a popular option for many households in and around Forest Hill.
The Stillness Infant and Junior School in Brockley Rise are also well regarded. The Junior school was rated as Good by Oftsed in December of 2018 while the Infant School received an Outstanding rating from Ofsted in June 2008.
Fairlawn Primary School, on Honor Oak Road, received an Ofsted rating of Good in January 2019.
Anyone looking for a faith school in Forest Hill will find St William of York Catholic Primary School, in Brockley Park, of interest. This primary school received an Ofsted rating of Good in its most recent review, which took place in February 2019.
These ratings will give parents confidence in considering Forest Hill as the location to settle down while raising a family. Many factors influence where households want to live, but providing children with a healthy start in life will always be a critical factor in the decision-making process.
A Department for Education study confirmed school impact on house prices
Many industry experts have long believed there was a correlation between desirable schools and demand for houses, and ultimately, house prices. A study released by the Department for Education, the DfE, in 2017 provided evidence for this belief.
The findings indicated property prices are 8% higher close to the best-performing primary schools. For the best performing secondary schools, property prices are 6.8%. Many local factors influence house prices, but there is enough evidence to suggest the presence of desirable schools increase costs.
If you’re a vendor, there isn’t much you need to do to draw this information to the attention of prospective buyers. Modern buyers are savvy, and if they are looking for an area with good schools, they will likely have researched this topic. Of course, it doesn’t hurt to reinforce this aspect.
At Hunters Forest Hill, we know selling your home is hard, but we are here to assist you in the process. If you aim to buy, sell, let your home or rent property, we are active in New Cross, Peckham, Dulwich and Brockley, in addition to Forest Hill, so get in touch with one of the top three agents in London, and we will be happy to assist you.