Homes in Top Scottish School Areas Command Growing Premiums

The latest research from Savills shows that house prices in areas surrounding the top 10 performing state secondary schools in Scotland are 58% above the average for the country as a whole.

Savills says that a large proportion of buyers cite their children’s education as a primary factor when deciding where to live, and the latest research has shown that homes situated close to well performing schools attract a significant premium.

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

Two key locations in particular boosted the rise. These were in Edinburgh South, where Boroughmuir High School is based, as prices rose by 15%, and the Gaelic School Glasgow where prices rose by 18%.

Head of Research for Savills in Scotland, Faisal Choudhry, commented: “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.”

Choudhry added that Scotland has just 100 independent schools, though many of these are internationally owned and educate children, not only from throughout Scotland but also from much further afield.

However, he added that with average day fees being £10,773 and £27,936 for boarders per child (in the academic year 2015/2016), it is little wonder that a significant proportion of parents are choosing to wear the one-off premium to buy in areas where there is a top-performing state secondary school.


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BDC 317 : Jun 2024