The Impact Of Great Schools On The Local Housing Market

Published: 27/01/2021

At BR Estate Agent, we know a wide range of factors influence demand for property, and what buyers are willing to pay for a home. However, we know the standard and availability of schools is a vital factor.

This is as true for Bromley, as it is for any part of the country. We believe there are many schools in and around the local area. If you plan on buying a Bromley home, and need to find a great area associated with a reputable school, we can help.

If you plan on selling your Bromley home, and want to make sure your home is presented to the most likely buyers, with the schooling on offer taken into consideration, we can help.

Many studies indicate schools drive demand and houses

In 2019, PwC released data that confirmed many people’s beliefs about housing prices. Properties in the catchment area of the leading 10% of primary schools were more expensive by around £27,000 than homes on the broader postcode area. For houses close to the leading 10% of secondary schools, the additional cost was £25,000.

Jamie Durham is an economist at PwC and was the lead author of the research, and he said; “Although access to the top-performing primary schools has slightly improved, the relationship between house prices and secondary school performance has remained largely consistent. High house prices around good schools have the potential to lock out poorer families from the best performing schools and, while the amount varies across England, it remains a significant obstacle to social mobility across regions.”

Jamie Durham continued by saying; “Concerningly, this can also be compounded over time - children from wealthier families who can afford more expensive homes may do better in school as they can afford additional support, contributing to higher attainment in these schools, and reinforcing the house price premium.”

Bromley has a range of great schools

The following schools are all located within a simple walk from the heart of Bromley:

  • Ashgrove School Ltd
  • Bickley Primary School
  • Harris Primary Academy Shortlands
  • St Joseph's Catholic Primary School
  • St Mark's Church of England Primary School
  • The Ravensbourne School
  • Valley Primary School
If you would like to discuss the range of schools in and around Bromley more, please get in touch, and we will be more than happy to assist you.

The School standards minister Nick Gibb said; “With almost 1.8 million more children in good or outstanding schools than in 2010, more families are able to secure a good school place for their child than ever before. However, for too many young people their chances of success still depend on how much money their parents earn and where they can afford to live. We want to end this unfairness and our proposals will create more good school places in every part of the country, so every child can have the excellent education they deserve.”

If you are looking to make a move in the Bromley property market, and you would like to speak with local experts, please get in touch. If you would like to arrange a property valuation, contact us and we will set this up for you. You can phone your BR Estate Agent on 020 3633 8620 from 9am till 9pm seven days a week or visit our website for more information.