House prices in areas surrounding Scotland’s top 10 performing state secondary schools are 58% above the average for Scotland as a whole, according to new research from Savills.

According to Savills, a huge proportion of buyers cite children’s education as a key factor in their decisions about where to live, and new research reveals homes near well-performing state schools attract a significant premium.

The gap between average residential property prices in areas surrounding Scotland’s top 10 schools and those in Scotland as a whole has widened significantly, from 51% in the year ending June 2015 to 58% in the year ending June 2016.

The rise was boosted by two key locations in particular: Park in Glasgow, the location of the Gaelic School Glasgow where prices rose by 18%, and Edinburgh South, where Boroughmuir High School is based and where prices rose by 15%.   

Faisal Choudhry, Head of Research for Savills in Scotland said:  “This is in line with recent research from Savills which revealed that prime city locations have been leading Scotland’s property market recovery, both in terms of price and number of sales.  House prices in Houston in Renfrewshire where Gryffe High School is located rose by 5%. Areas around the remaining seven top performing schools remained more or less stable, although the number of sales rose.

“Scotland only has 100 independent schools, but many are internationally renowned and educate children, not only from across Scotland but also much further afield.  However with average day fees being £10,773 and £27,936 for boarders per child (academic year 2015/2016), it is little wonder that many parents choose to wear the one-off premium to buy in areas where there is a top-performing state secondary school. The decision is also driven by the fact that these hotspots are often also characterised by good communication links and have high quality amenities such as independent shops, restaurants and leisure facilities, all of which are of great appeal to growing families. “

 

 

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