Premiums for homes in areas with best state schools continue to climb

16/07/2019 09:58:55

No sooner have the summer holidays started than the ‘back to school’ sales begin in the shops and thoughts of parents with children in the latter years of primary turn to property prices.

Securing a home in the catchment of a good high school can become an obsession particularly given the lack of available stock in areas surrounding the best secondaries in Glasgow, East Renfrewshire, North and South Lanarkshire and Argyllshire.

Research published this week reveals an ongoing trend with premium properties in East Renfrewshire – home to some of Scotland’s top performing state secondaries, including Mearns Castle, St Ninian’s, Williamwood and Eastwood High Schools – now costing almost three times as much as the average home in the area.

The survey of the most expensive 1% of homes in Scottish local authorities showed that, in East Renfrewshire the figure was £762,000, compared with an average price of £262,000.

Even those lucky enough to secure a house at the lower end of the market in the area will still likely be charged more than the £153,535 Scottish average for a semi-detached house.

The cost of entering the one per cent property elite in East Renfrewshire is slightly more expensive than across Scotland as a whole, where the average minimum required is £636,000.

A property in the top 1% in North Lanarkshire – home to Dalziel High School and Our Lady’s High, Cumbernauld - two schools in the top 50 performing secondaries in Scotland - would set you back £382,000, but you’d need at least £1.04million to join the exclusive group in Edinburgh, the highest rate Scotland.

You could buy four similar properties in the Western Isles for the same money, where they start at £250,000, the lowest price in the UK.

Gregor Cope, Director of Scottish property Centre Shawlands, said: “As you would expect, there is a clear link between high house prices and the best state schools, with the most expensive properties clustered around the best performing schools.

“Fewer high earners are sending their children to independent schools than in the past which means the premium for properties around the top state schools has increased.”

The research also showed that, in 2017-18, one in every 284 property sales in East Renfrewshire cost more than £1 million.

For more information on property prices in the catchments of your local schools, phone your nearest Scottish Property Centre branch or visit www.scottishpropertycentre.net

 

 

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