Location to a good school is usually pretty high up on the list of prerequisites for families looking to relocate. But if you want access to a top international school, how much more would you be willing to pay?
New research by lettings and estate agent, Benham and Reeves, takes a look at the cost of buying around one of the UK’s top international schools and which are currently most in-demand amongst homebuyers.
The research found that property prices in postcodes home to a top Independent IB School average £542,583, 130% more than the current UK average of £235,673.
The most prestigious from a property price point of view is the Halcyon London International School. Located in the City of Westminster, the co-ed school costs a cool £26,352 a day while property in the W1H postcode will set you back £2.9m on average.
The nearby W1T postcode, home to the Southbank International School, is also home to an average property price of £2.1m, while ACS Cobham International School in Surrey is the most expensive outside of London (£828,435).
Godolphin and Latymer School in Hammersmith’s W6 postcode is home to the highest house price for an all-girls international school (£808,441), while King’s College School in Wimbledon (£599,746) is the most expensive all-boys school.
Rossall School in Lancashire’s FY7 postcode is home to the most affordable property price of all international schools at £129,002.
The firm also looked at the schools where buyer demand is highest based on the level of stock being snapped up by homebuyers as a percentage of total stock on the market.
The research shows that Fettes College in Edinburgh is currently home to the highest demand, with 64% of all homes for sale in the EH4 postcode listed as sold or under offer.
Bromsgrove School (59%), Bryanston School in Dorset (57%), Taunton School in Somerset (55%), Bedford School (53%) and Felsted School in Essex (53%) are also amongst the most in-demand schools where homebuyer demand in the surrounding area is concerned.
ACS Hillingdon International School is the most in-demand within the M25, with homebuyer demand currently as 52%.
Anita Mehra, Managing Director of Benham and Reeves said, “The quality of education available in a given area is always a driving factor for many parental homebuyers, and this is undoubtedly no different where foreign interest is concerned.
“With schools now returning, we’ve seen a sharp uplift in both domestic and foreign buyer demand in areas home to top educational institutes over the last few weeks, as many look to secure a property within touching distance of their chosen school.
“This has been primarily due to interest from Asia, with the quality of their children’s education top of the list for these buyers. Interest from Hong Kong, in particular, has been high as many look to escape a turbulent landscape to provide their children with a more stable environment in which to learn.”