Parents pay 'ridiculous' house prices to be near top schools
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Parents pay 'ridiculous' house prices to be near top schools
Scotland’s stand-out schools are sending local property prices soaring and sparking “ridiculous” bidding wars among parents. The figure is markedly higher in the north-east, where Bank of Scotland analysts concluded you would need to pay a premium of £102,497 to live within the catchment area of Cults Academy in Aberdeen. The bank examined house sales across Scotland, giving particular attention to market activity near the 20 top-performing secondary schools.In these districts, the average cost of a house is now running at £231,476.Rival research from estate agents Aberdein Considine suggests the schools factor has propelled the commuter belt of East Renfrewshire ahead of Edinburgh in the race to become the hottest property market in Scotland.The district takes in suburbs such as Clarkston, Giffnock and Newton Mearns. The average property price here, says Aberdein Considine, is now £249,353 compared to £247,206 in the Capital.
Andy Dunlop, manager of the Business Improvement Districts I Love Clarkston and All About Barrhead, said: “People are attracted to East Renfrewshire by the schools."Whenever you ask someone, that’s the first thing out of their mouths when they say why they are moving there.”Last month, three sets of twins achieved five As each at St Ninian’s, officially the second-best state school for exam results in Scotland.Many parents are choosing to spend the extra on the price of their house, rather than send their children to the city’s private schools, where fees per child are now around £12,000 a year. Living near a top-performing state school appears to be a shrewd investment, based on house price performances over the last five years. Parents who bought a home near one of the top 20 schools in 2012 have seen an average house price rise of £45,493 – an increase of 24 per cent.One estate agent serving the East Renfrewshire area said: “I shouldn’t really complain but the market has just become ridiculous.“My staff are struggling to cope with the number of closing dates which are being set because properties are just so popular.“It’s not unusual to have 20 viewers in just a few days. Then someone panics and throws in a huge offer.”Earlier this month, a detached bungalow in Giffnock – needing major internal modernisation – was put on the market at offers over £565,000. It sold for over £700,000.The source added: “Schools have now become the big issue. Parents know exactly what streets to look for so that they can get their child into the school they want.”. 00FastNews. Please Subscribe!
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Parents pay 'ridiculous' house prices to be near top schools
Scotland’s stand-out schools are sending local property prices soaring and sparking “ridiculous” bidding wars among parents. The figure is markedly higher in the north-east, where Bank of Scotland analysts concluded you would need to pay a premium of £102,497 to live within the catchment area of Cults Academy in Aberdeen. The bank examined house sales across Scotland, giving particular attention to market activity near the 20 top-performing secondary schools.In these districts, the average cost of a house is now running at £231,476.Rival research from estate agents Aberdein Considine suggests the schools factor has propelled the commuter belt of East Renfrewshire ahead of Edinburgh in the race to become the hottest property market in Scotland.The district takes in suburbs such as Clarkston, Giffnock and Newton Mearns. The average property price here, says Aberdein Considine, is now £249,353 compared to £247,206 in the Capital.
Andy Dunlop, manager of the Business Improvement Districts I Love Clarkston and All About Barrhead, said: “People are attracted to East Renfrewshire by the schools."Whenever you ask someone, that’s the first thing out of their mouths when they say why they are moving there.”Last month, three sets of twins achieved five As each at St Ninian’s, officially the second-best state school for exam results in Scotland.Many parents are choosing to spend the extra on the price of their house, rather than send their children to the city’s private schools, where fees per child are now around £12,000 a year. Living near a top-performing state school appears to be a shrewd investment, based on house price performances over the last five years. Parents who bought a home near one of the top 20 schools in 2012 have seen an average house price rise of £45,493 – an increase of 24 per cent.One estate agent serving the East Renfrewshire area said: “I shouldn’t really complain but the market has just become ridiculous.“My staff are struggling to cope with the number of closing dates which are being set because properties are just so popular.“It’s not unusual to have 20 viewers in just a few days. Then someone panics and throws in a huge offer.”Earlier this month, a detached bungalow in Giffnock – needing major internal modernisation – was put on the market at offers over £565,000. It sold for over £700,000.The source added: “Schools have now become the big issue. Parents know exactly what streets to look for so that they can get their child into the school they want.”. 00FastNews. Please Subscribe!
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'Never again!' Customer's fury after Ryanair cancels flight as she waits in airport lounge: http://youtu.be/kCeynEfZry8
Australians use Brexit to demand vote to SCRAP Queen to stop ‘clinging to Little Britain': http://youtu.be/WVu51TI63FQ
Jeremy Corbyn plots Labour power grab to make party MORE left wing: http://youtu.be/Z5GqEDazADM
SNP have cost Scottish NHS £1billion, Oxford academic claims: http://youtu.be/vc60Q3mBTXs
WW3: USA has military plans ready to combat North Korea, US Defence Secretary warns: http://youtu.be/btCAvMAXSF0
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