Jane McGowan discovers the high price of trying to buy a home near a school
As our son approached his third birthday, it suddenly dawned on us that the rural idyll we had purchased two years before to escape the noise and bustle of south London may not be such an ideal setting after all. While we had checked commuter routes, access to the M25 and to the airport, the one thing our childless, care-free 20-something-selves had not considered was the proximity of a school.
That was 13 years ago and sure enough the stress we felt while waiting to be accepted into our first choice primary, meant we scurried back to an urban civilisation long before it was time to apply for that all-important secondary school spot.
Since 2006, the need for school places has become a scorching hot political topic – on both the national and local agendas, with the Education Funding Agency (EFA) predicting that the number of pupils of secondary school age in Surrey will jump from its current figure of 60,976 to 71,340 in 2022/23, a rise of more than 10,000.
Today, parents and indeed estate agents are more than aware of the financial implications of having a property in a good catchment area with ‘property details’ often boasting the names of nearby institutions.
According to a 2017 report from mortgage provider Santander, those looking for homes near a reputable school are willing to pay 12% (up to £28,000) more than market value. Nearly half of respondents said they had moved to be near a preferred establishment, while a third had opted to buy a second home to achieve the desired postcode.
“Schools are often a big reason for someone undertaking a move,” says Scott Ford, associate director, Hamptons Dorking. “Being in a good catchment area offers more flexibility when choosing schools and, when selling, it can often mean that sales achieve a higher price and a quicker sale.”
Catherine Farrow from Reigate, made the move from her four-bedroom town-house in south Croydon to assure a place for her daughter at St Bede’s School, an Ofsted rated ‘outstanding’ school in Redhill.
She says: “We were really keen for our daughter to go to St Bede’s as, at the time, we felt there wasn’t a great choice open to us where we lived. We sold our house quickly and ended up moving while she was in Year Five, so the most stressful parts were waiting to hear whether we had secured a place and commuting back to the old primary school as we didn’t want to uproot her.
“Miraculously, the move fell into place and we even found a house close enough for her to walk to school.”
While finding such a property is seen as the ‘Holy Grail’ for one family, it may mean many more misses out, as there becomes a lack of affordable family homes.
As Scott says: “There is often a shortage of suitable houses as people move into an area when their children are at primary school and then end up staying until long after the children have finished at university. And for some areas with consistently popular schools that could become a problem as sometimes you don’t need to be just in the area but in the postcode.”
To find out about schools in the area, visit: surreycc.gov.uk. Or view our listing for the best private schools.
