House price premium for good school

Published:
10 September 2008
Topic:
News,Money,Mortgages

A quarter of parents have said they would be prepared to spend a £50,000 premium on a house near a good school, according to investment managers Fidelity International.

A fifth have said they would only look at houses near a good school, while a third said schools would play a big part in their decision on where to buy a house.

A further fifth of parents said they would be prepared to commute further to work if it meant their children could go to a good quality state school, and a tenth said they would move away from family and friends if it put them in the catchment area of a better school.

Rob Fisher, head of UK retail marketing at Fidelity International, said: "The prospect of putting a child through private school is financially very daunting for many parents, especially at time when the cost of living is rising so dramatically.

"While house prices in many parts of the UK are falling, a number of parents still find themselves in a situation where they have to spend more on their homes to guarantee getting their child into a good state school."

Copyright © PA Business 2008

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