Families which prioritise education have long been prepared to pay a premium for houses in the catchment area of high performing schools.
This could create an environment where pupils and parents are attentive to education, impacting on the classroom atmosphere and parental input into the school.
But buyers should be aware that it can also lead to a self-fulfilling prophecy as exam results drive up property prices, and property prices drive up exam results.
Our website, s1homes, is the biggest of its kind in Scotland, advertising over 30,000 properties for sale at any given time.
A quick glance will show that property stock is much lower in areas where schools are more attractive.
We think that is because the throughput of properties in these areas is much faster, thanks to increased demand. We also find that properties move notably quicker in these areas compared with nearby neighbourhoods.
Having said that, there are still opportunities for the canny buyer who is prepared to do their homework.
East Renfrewshire provides a welcome opportunity for parents. It boasts three of the top twenty performing schools, yet families can still secure family homes for around £260,000.
The recent s1homes House Price Report noted that properties can be purchased at or close to the asking price, which is in stark contrast to other catchment areas, such as Jordanhill in Glasgow, where properties sold for 16 per cent above their asking price.
Some of the areas with the highest ranking schools undoubtedly impact property prices. But this is only part of the story.
Other externals factors - such as proximity to universities and business centres - are also at play. An example of this could be James Gillespie’s High School in Edinburgh. Prices for the postal area around this comprehensive are up 57 per cent in the last five years. But Gillespie’s is in an area of the capital that has become increasingly attractive in recent years. There are lots of people who would want to live there who do not have children.
Wendy Pauley is marketing manager for S1 Homes, Scotland’s largest online property portal
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