House prices soar near popular schools
PARENTS are paying through the nose to get their children to top state schools.Homes near top schools Northgate and Copleston are streaking ahead of property prices in the rest of Ipswich.
PARENTS are paying through the nose to get their children to top state schools.
Homes near top schools Northgate and Copleston are streaking ahead of property prices in the rest of Ipswich.
It seems the town is teeming with EELs – Education, Education, Location.
Town estate agents revealed wannabe homeowners could expect to pay up to 15 per cent over the odds.
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In terms of cold, hard cash, that equates to a price tag of a three-bedroom semi in the Copleston catchment of up to £150,000.
And if you aspire to Northgate, you will have to fork out another £15,000 on top of that.
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Chris Jessup, from town agents Fenn Wright, said: "The catchment area does make a big difference.
"We're looking at a 10-15pc increase. People will move specifically to get their child into a different school."
Estate agents outside Ipswich said schools did affect housing, but not to the same extent.
With fewer schools and less competition, the prices are not rocketing as they are in Ipswich.
David Knight, from David Brown and co, said: "Although the catchment area of a property affects its popularity, it doesn't necessarily affect its value."
Nationwide figures suggest Ipswich is far from being unusual. A survey for the Royal Institute of Chartered Surveyors found prices rising across the country.
Research showed housing in Reading could rocket by up to 30pc if it is near a good school.
Most of the 200 agents across the country revealed price rises, with London surprisingly coming near the bottom of the pile.
RICS housing spokeswoman Jeremy Leaf said: "Good state schools are a deciding factor for many house buyers.
"If private schools are financially out of their reach, they are prepared to move and pay a premium."