Richmond Park is recognized as the top site inEnglandfor entry to top-performing public schools. A report from the property firm Savills e...
Richmond Park is recognized as the top site inEnglandfor entry to top-performing public schools.
A report from the property firm Savills examined educational outcomes andschoolvarious parliamentary constituencies, emphasizing regions where students perform well academically and where households gain advantages from being near high-quality schools.
The study examined the typical academic performance at Key Stage 2 (KS2) and Key Stage 4 (GCSE level) for students in every parliamentary constituency, utilizing data obtained from theDepartment for Education.
To evaluate the general school quality in each region, researchers examined the percentage of schools positioned within the top 20% nationwide, balanced against those in the bottom 20%.
Which regions in the United Kingdom boast the top-performing educational institutions?
More than two-thirds (68%) of regions offering the best access to top-rated schools were identified withinLondonand the Southeast, and this regional supremacy exerts a considerable influence on housing prices.
Even after accounting for standard regional price variations, properties located in the top 10% of school-performance zones command an average premium of 28% over similar homes in the same area.
Richmond Park is at the top for both primary and secondary schooling. Homes within this area typically cost more than £1 million, which is a 51% increase over the regional average.
Beyond London, Altrincham and Sale West ranked highest in terms of access to both primary and secondary schools.
Homes in this area typically cost over twice as much as the average house price in the North West, with values 121% above the regional mean.
This top-tier property reflects Savills' finding that purchasers are willing to spend considerably more to reside close to grammar schools and other outstanding educational facilities.
Lucian Cook, who leads residential research at Savills, stated: 'There is a proven connection between property values and proximity to top-rated schools.'
Parents frequently assess the appeal of a neighborhood by the standing of its educational institutions, which is determined by years of performance, and are prepared to spend more to reside within the corresponding school zones.
Cook also predicts that this trend will grow stronger as private school tuition keeps increasing, leading more families to look for spots in high-achieving public schools.
This phenomenon is anticipated to increase the need for housing close to these organizations, fuelingproperty prices higher.
Property values in Richmond Park
According to Savills' research, the average home price in Richmond Park stands at £1,016,265.
As per Rightmove, the typical home cost in Richmond during the last year stood at £946,655 — a decrease of 3% compared to the prior year and 15% less than the 2022 high of £1,115,144.
Most of the properties sold in Richmond over the past year were apartments, with an average selling price of £610,970.
Terraced homes were sold at an average price of £1,095,519, while semi-detached houses reached £1,465,116.
A study by Savills highlights that the availability of top-notch education continues to significantly impact property markets throughout England, especially in London and nearby regions.
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