Nationwide: Top schools add value to homes

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Nationwide: Top schools add value to homes

Living close to a good-quality primary school can increase a propertys' value by as much as £8,031, according to Nationwide.

If a school attains a ten per cent increase in their SATs scores, house prices in the surrounding areas can go up by an average of 3.3 per cent, the building society found.

For those living in Yorkshire and Humberside, the percentage of price increase is the highest, with proximity to a good school putting a 4.6 per cent increase on the value.

Top primary schools, where over 90 per cent of pupils receive Level four in their SATs exams aged 11, see the biggest increase in value for property owners. Last year, 2.4 per cent of school achieved 100 per cent pass rate.

Martin Gahbauer, Nationwide's chief economist said: "A house located near one of these top performing schools could command an 11 per cent premium (around £19,500) over an identical property located near a lower quartile school (in the bottom 25 per cent)."

Earlier this month, Nationwide announced cuts to the rates on its fixed-term and tracker mortgages.

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