Of all the areas in England, Sutton ranked in the top ten for the best schools. The borough was eighth for the percentage of “Outstanding” schools, claiming 42% of all schools in this category.
A recent study by Zoopla has ranked areas with respect to “Outstanding” schools in the area, and anyone looking for property in Sutton will like what they see.
The property portal spoke to 1,000 parents, in an attempt to determine what households are willing to do to live in a well-regarded catchment area.
Parents want access to an outstanding school
The survey found parents in the UK are willing to pay, on average, up to £28,986 to base themselves in an “Outstanding” catchment area. With these sums of money involved, it is no surprise to learn Zoopla’s findings suggest parents regard an “Outstanding school as a “top priority”.
According to Rightmove, as of the end of February 2021, the Sutton housing market is described as follows;
“Properties in Sutton had an overall average price of £464,846 over the last year.
The majority of sales in Sutton during the last year were flats, selling for an average price of £291,045. Terraced properties sold for an average of £428,810, with semi-detached properties fetching £555,142.
Overall, sold prices in Sutton over the last year were 8% up on the previous year and 10% up on the 2018 peak of £423,901.”
The recent survey carried out by Zoopla provided the following results:
10.2% of parents admitted they have used a relative’s address to ensure their child gains access to an “Outstanding” school
21.3% of parents said they would be happy to downsize their property to gain access to the catchment area for the right school.
The leading area for schools in England, according to Zoopla’s study, was Kensington and Chelsea, with 67% of schools classed as “Outstanding”. Rushmore and Woking in the South East of England were next in the list, and then it was Hammersmith and Fulham in the capital.
Great schools impact property prices
In 2019, Confused.com released a guide on buying near well-regarded schools, and their spokesperson 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.”
In 2016, School standards minister Nick Gibb said: "With almost 1.8 million more children in good or outstanding schools than in 2010, more families are able to secure a good school place for their child than ever before. However, for too many young people their chances of success still depend on how much money their parents earn and where they can afford to live.”
At the same time, buying agent and market commentator Henry Pryor said: "At long last, the government is confirming what many people have known for years, that being near a good school adds to the price of a home. It is all about location, location, location. Good schools put up the price in the same way as high-speed broadband or being near a rail station. We will see the same effect at the other end of life, with people prepared to pay more to be near to good hospitals and social care as they get older and rely more on the health service.”
If you are starting the sales process, or wondering what your next move will be, you can arrange for an instant valuation to take place. Our instant valuation tool is free, quick to use and very easy to arrange, so contact Belvoir Sutton today if you would like to arrange a valuation during the lockdown period.