New research shows that house hunters in Uppingham are paying over the odds when it comes to buying a home thanks to the town's good schools.
The research, published yesterday by Savills estate agents, lists the top 20 areas across the East Midlands where there's a hefty premium for the convenience of living close to the best classrooms.
It showed that those living close to Uppingham Community College, which is rated "good" by Ofsted and Uppingham School, a highly respected independent boarding school, pay 85.3 per cent more than the average Rutland house price of £149,037.
Those in Oakham, close to Oakham School, another independent boarding and day school, pay 33.2 per cent more than the average house price, while residents in Loughborough, close to Loughborough High School, pay 2.1 per cent more.
Savills research analyses examples put forward by The Good Schools Guide and compares them with property values in the vicinity with the county average. The firm has compiled a list of 400 schools with the highest house price premium on their doorstep.
Sophie Chick, from Savills who helped to compile the research, said: "Education is not the only factor determining the performance of house prices but it does play a significant part. As demand for good schools continues so too does the competition for houses in handy locations which, as we have seen, pushes up the values."
Chris Charlton at Savills Nottingham office added: "The East Midlands has some excellent schools although it's worth looking into those places where you pay a premium to be on the classroom doorstep. We find that parents are particularly keen to live close to schools when their children reach the age for clubs and other extra curricular commitments. Having to drive 10 or 20 miles not just for the school run but for all the additional activities becomes just too time consuming and inconvenient. We currently have a strong demand for houses in the East Midlands region with easy access to a number of these schools."
Uppingham Community College's latest full Ofsted report says that students there achieve well and make good progress overall to reach standards that are above average by the end of Year 11.
It says that teaching is also good overall with some outstanding practice and that students' behaviour is "excellent".
