Decision Homebuyers Report on the Effect Good Schools Have on House Prices

London, United Kingdom, January 21, 2010 --( Decision Homebuyers, one of the UK's most trusted and flexible home buying specialists, comment on the Nationwide Building Society's report that good, local primary schools can add an average of £5,860 to the value of a property.

A 10% increase in the local primary's SATS pass rate can add value onto a property - even if it's identical to a similar one in another area - with Yorkshire and Humberside seeing the biggest premiums. However, the lender also says that traditional methods can still add value to a property, such as adding a loft conversion or extra bedroom.

Primary school catchment areas are relatively small, and a house can cost upwards of £19,500 more than a similar property elsewhere. However, the report also underlines that internal home improvements and additions to the structure would have a deeper and longer-lasting effect on its value as opposed to the success rates of nearby education facilities.

"It's interesting to see the effect the performance of a good, local school has on property prices, even whilst we are in the midst of a recession," says Laurence Smith of Decision Homebuyers. "People looking to sell a home quickly will have to be vigilant when eyeing up properties around a well-regarded area with high-class education facilities, and will have to be on the lookout for the best deals and prices before moving in to the area. Education is important to families, and being located near to a good school is always top on homebuyers' lists."

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