If there is something useful for buyers and vendors, it is knowing what affects property prices. It is perfectly reasonable that the age, size and condition of a property impact what a buyer is willing to pay for a home. However, these are far from the only factors which shape property prices and values.
Many external factors determine the value of a property, with a critical factor being the availability of local schools and the education which is on offer. House prices in Letchworth Garden City, like all other areas in the country, are affected by school standards, reputations, ratings and spaces.
Parents will pay more to access dependable schools
It is no surprise to learn parents are happy to pay more for their children to gain access to a well-regarded school. If a parent believes placing their child into a specific school is better for them, improving their chances of success in life, most parents will do what they can to make this happen. This creates a heightened level of demand for property in areas which grant access to these well-regarded schools.
In a publication issued by the comparison website Confused.com; the focus was placed on buying property in a good catchment area. When this guide was published, 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."
Letchworth Garden City schools are in high demand
Schools such as Garden City Academy, Lordship Farm Primary School, Grange Junior School and Norton St Nicholas CofE (VA) Primary School were rated as Good by Oftsed, but come highly recommended by many parents in the local community.
For secondary schools in the immediate area, The Highfield School is classed as Satisfactory by Ofsted. However, the last review was close to a decade ago, with many parents and observers stating the school has made significant strides of late.
Ofsted ratings are useful in comparing schools, but there is more to a school, and the happiness of your child, than Ofsted grades. Buyers will also consider feedback from people with experience of local schools, and if you can provide this information, you can connect with buyers.
If you don't have children, the importance of education and school places may not cross your mind. However, even if you don't have children, if you are active in the property market, you must have this factor in mind. We are here to ensure you receive the support and guidance you need in buying or selling property.
If you plan on selling your home in 2020, we are here to assist you. Contact Country Properties Letchworth Garden City to arrange a property valuation for your home. We are pleased to provide you with local insight and knowledge, so get in touch today.