A new study from Barratt London reveals the correlation between Ofsted ratings and London’s house prices.
To coincide with the back to school period in September and Open Day season in October, Barratt London took official Ofsted data for London’s primary and secondary schools and grouped boroughs by their percentage of Ofsted rated outstanding schools.
The results show an average and consistent property price drop (or rise) of £87,127 from each Ofsted rated outstanding bracket – something to consider before committing to such a significant investment.
As the table below indicates, the higher the percentage of Ofsted rated outstanding schools in a borough, the higher the average property price.
|Ofsted Outstanding (%)||Average House Prices (May 2018)||Difference in Property Prices||Number of Boroughs in bracket|
*Not included in the average calculation.
So where is the best value place to live?
While Kensington and Chelsea are home to the highest rated schools with not one school in the borough deemed to ‘require improvement’ or be ‘inadequate’, this performance does come at a cost – a staggering £1,326,653 on average.
Furthermore, the chances of earning a place in the school of your choice are slim – just 68.4% for primary schools and 54.3% for secondary schools.
Taking into consideration Ofsted ratings, the likelihood of receiving your first choice and average house prices, the best value borough for education comes out as Harrow.
In Harrow 47.5% of all schools are deemed outstanding by Ofsted (third highest in the dataset). It also offers a much higher chance of getting the school you want – there’s an 85.5% chance of getting into the first preference for primary schools, and 69% for secondary schools.
Plus, average house prices in this borough are far more affordable (£468,464). This all combines to make it a great value borough to set down roots for the future.