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Lettings November 29, 2020
     

Impact Of Schools On Hackney House Prices

At Sovereign House, we know the importance of house prices, and we know what factors influence demand for homes, and what buyers are willing to pay. If you are looking to buy or sell property in Hackney, schools affect local prices.

There is a selection of well-regarded schools in and around Hackney. This is positive news for people looking for a home close to good schools, or for anyone looking to safeguard the value of their home.

If you plan on selling your Hackney home, we are happy to provide you with a property valuation. A realistic valuation enables you to enter the market with confidence, connecting with buyers.

Hackney is home to many great schools

The following primary schools are all located within a 20-minute walk from the heart of Hackney, and they have been listed alongside their Ofsted rating.

  • Lauriston School - Good

  • St John of Jerusalem Church of England Primary School - Good

  • Orchard Primary School - Outstanding

  • St Elizabeth Catholic Primary School

  • Chisenhale Primary School - Good

  • Berger Primary School - Good

  • Old Ford Primary - A Paradigm Academy - Outstanding

  • Morningside Primary School - Outstanding

  • London Fields Primary School - Outstanding

There is also a selection of secondary schools which have been classed as “Good” by Ofsted close to the heart of Hackney. These three secondary schools are all within walking distance; Mossbourne Victoria Park Academy, Cardinal Pole Roman Catholic School and The Urswick School - A Church of England Secondary School.

There is evidence which supports the impact of good schools on house prices

In 2019, Confused.com released a guide on buying near well-regarded schools, and their spokesperson said; “Buying a home near a good school is something parents start thinking about years before the time comes. But what they might not realise is how much this is going to cost them. We found that those looking to move near a school with an ‘Outstanding’ Ofsted rating could be paying almost £40,000 more than those rated ‘Good’, on average.”

In 2016, 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.”

At the same time, buying agent and market commentator Henry Pryor said: "At long last, the government is confirming what many people have known for years, that being near a good school adds to the price of a home. It is all about location, location, location. Good schools put up the price in the same way as high-speed broadband or being near a rail station. We will see the same effect at the other end of life, with people prepared to pay more to be near to good hospitals and social care as they get older and rely more on the health service.”

These are challenging times in the rental market, but there is activity and demand for homes. At Sovereign House, we are keen to help you with whatever you need in the Hackney lettings market. Why not call us on 020 8985 5800 or visit us at 213 Victoria Park Road, we look forward to assisting you with your property needs.



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