It has been revealed in The Telegraph that parents are willing pay an extra £8,670 on buying a new property in order to get in the catchment area for a good primary school.
The figures come from research conducted by Nationwide Building Society who say that simply living near a school where pupils get 10% better results, can mean a 4.6% increase on a house value.
The increase in prices varies throughout the country, but in London people can expect to pay 3% more for living in a good catchment area, while in Yorkshire parents can pay and extra 4.6%. The south west of the UK had the lowest increase in house prices due to catchment area of just 2.6%.
The figures seem to indicate that house prices can be influenced by more than simply making home improvements and that the old adage of location location location does appear to have a significant bearing on it.
Other factors may include how a home is heated (central heating, wood burner for kiln dried logs and heat logs, electric etc), nearby planning applications and crime rate (which is location, location, location again).
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