How have Chichester’s schools affected house prices?

I was speaking to a landlord recently who was looking to expand their portfolio. Wanting to buy a three bedroom house, I suggested they pay particular attention to the quality of local schools, as it stands to reason the likely tenants of such a property will be a family with children. 

All parents want the best education for their children and tenants are far shrewder nowadays in looking at the school league tables when picking where to set up home. A family home near a good school will find tenants quicker, achieve a higher rent and will most likely see those tenants want to stay long-term once settled at that good school.

It also stands to reason that homeowners will have the same mentality and that house prices around the best schools will rise more than around the weaker schools, as parents aim to buy in the good catchment areas.

In Chichester the best primary school (according to SchoolGuide) is Jessie Younghusband, which is located to the North of the city. It received an ‘Outstanding’ rating from Ofsted in 2013, whilst 87% of their 11 year olds achieved level four or above in their maths, reading and writing SATs, compared to 80% nationally.

The best secondary school in Chichester is Bishop Luffa, to the West of the city. Bishop Luffa also received an ‘Outstanding’ rating from Ofsted (in 2008) whilst 76% of pupils achieved a minimum of five A*-C grade GCSEs this year (including maths and English), compared to 53% nationally.

This is why Parklands, Little Breach, Summersdale and the Worcester Road areas are so popular with families, as they are in the catchment area for both of these schools.

In fact within half a mile of Jessie Younghusband School house prices have increased an average of 46% since 2006. This compares to an average of 34%

throughout Chichester in the same time, meaning that being near the top rated primary school in Chichester has seen house prices outperform the local average by roughly a third in the past decade.

If you study the SchoolGuide website (www.schoolguide.co.uk), you’ll notice that the catchment areas for secondary schools are far wider than for primary schools. This tends to mean it is the primary schools that have a bigger influence on house prices in their immediate proximity, as there is a requirement to be nearer the school to secure a place there.

Just like would-be homeowners study the local area carefully before selecting a property, so should a landlord in keeping with the type of property they are buying and the type of tenants they wish to attract.

If you are considering purchasing a buy-to-let and would like some expert advice about what or where to buy, please give me a call for a free consultation.

(This article was featured in the Chichester Observer's property section on 10th November 2016)

Clive Janes, CRJ Lettings.  

www.crjlettings.co.uk

___________________________________

If you are looking for an agent that is well-established, professional and communicative in Chichester, then contact us to find out how we can get the best out of your investment property.

E-mail me on clive@crjlettings.co.uk or call 01243 624 599.

Don't forget to visit the links below to view my previous buy-to-let deals and Chichester Property News articles:

Follow The Buy-To-Let Property Investment Market in Chichester

Chichester Property Market LinkedIn Page for Clive Janes

CRJ Letting Agents Chichester Facebook Page

CRJ Letting Agents Chichester Twitter Page

Chichester Investment Property Management Specialist CRJ Letting Agents Website

c/o CRJ Lettings, 30B Southgate, Chichester, West Sussex, PO19 1DP

__________________________________