Survey Finds A Quarter Of Families Move House To Send Children To A Good School: A recent survey of approximately 1,100 parents has revealed that 25 per cent of families in the United Kingdom have moved house to secure a place at a good school for their children, with one sixth of the respondents saying that they purposely bought or rented a property in the catchment area of a desirable school.
The research, which was conducted on behalf of Santander, also discovered that some families were also open to paying significantly more for a house close to their choice school. The researchers utilised the data from the Land Registry and the Registers of Scotland and discovered that some families were willing to pay 18 per cent more for a house close to their choice school. Taking into account that the average price of a house in England, Scotland and Wales is £180,000, 18 per cent is equivalent to £32,000.
When looking at who was most likely to pay above the national average for a house near their desired school, the survey found that parents in London were most likely to pay a premium of £77,000.
Scotland and North East England were willing to pay the highest premium in terms of percentages, with the respondents saying that they would pay a premium of 21 per cent. Taking into consideration that the average price of a house in North East England and Scotland, this percentage would translate to £34,000 for a house in Scotland and £21,000 for a house in the North East.
The Welsh respondents revealed that they would be willing to pay 15 per cent, or £17,000, more for a house if it meant sending their child to their chosen school.
Yorkshire and Humberside was the only area where parents wouldn’t be willing to pay a double-digit premium, with the respondents saying they’d be willing to pay 8 per cent more, or £9,500.
Santander UK’s Managing Director of Mortgages, Miguel Sard, said of the findings:
“With competition for school places fiercer than ever, parents are making significant financial and lifestyle sacrifices to be within the catchment area of desirable schools,”
He added: “All buyers will have a wish list of what they want their new home to have, and being within a certain school catchment is increasingly common among young families but can often come at a cost.”
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