Local property experts ESPC has revealed how much being in a top Edinburgh school catchment affects your home's value.
Schools went back this week following the summer holidays, and that means plenty of homeowners and prospective buyers are starting to think about their next move.
It’s understandable that many family buyers would want to secure a new home and pathway to their ideal school sooner rather than later. It’s well known that places at the top-ranking secondary schools in Edinburgh are hard to come by, with ever-increasing demand for spaces at those in the top 10 specifically.
With that in mind, ESPC has revealed just how much being in the catchment area for a top-ranking school impacts a property’s appeal.
Paul Hilton, CEO of ESPC, said: “The average selling price for homes in the catchment for Edinburgh’s top ten secondary schools doesn’t fall lower than £413,000, which is around £47,000 higher than the average price for a three-bedroom home across the city.
“Homes in the best-performing catchment areas tend to attract higher demand from buyers, with properties more likely to set closing dates, and buyers more likely to pay a higher premium above the Home Report valuation.
“Remember, if you have a particular school catchment in mind, you can use ESPC’s unique ‘search by school catchment’ tool to find homes in the right area for your ideal school.”
Our photo gallery below shows the property price data for homes in the catchment area for Edinburgh’s top 5 schools (according to the most recent Sunday Times school league tables), compared to schools in the rankings at places 11-15, to see how much being close to a top-ranking school affects the value of a local family home.
1. Boroughmuir High School
With a catchment spanning Bruntsfield, Morningside and Blackford, housing demand in the eligible area for Edinburgh’s top-rated school is understandably the highest on the list. Average property selling price for a three-bedroom home: £567,910 - the highest on the list, and almost £200,000 higher than the current Edinburgh average for a three-bed home of £378,376. Median selling time: 19 days. Closing dates: 42 per cent (compared to 25 per cent for all of Edinburgh). Average amount of Home Report valuation paid: 104 per cent. | Google Maps
2. Craigmount High School
The catchment for Craigmount High School covers popular family neighbourhoods including Corstorphine, Clermiston and East Craigs, with homes typically selling for well above average Edinburgh prices. Average property selling price for a three-bed home £484,399. Median selling time: 41 days. Closing dates: 20 per cent. Average amount of Home Report valuation paid: 101.4 per cent. | Google Maps
3. James Gillespie's High School
The third-placed high school has a catchment spanning Old Town, parts of the West End and Bruntsfield, Newington, Sciennes, Marchmont and the Grange, so it’s safe to assume a place at this school might come at a premium. Average property selling price for a three-bed home: £542,062. Median selling time: 27 days. Closing dates: 24 per cent. Average amount of Home Report valuation paid: 102.5 per cent. | Google
4. St Thomas of Aquin’s High School
As one of the three RC high schools in Edinburgh, St Thomas of Aquin’s has a larger catchment area which spans from the Pentlands to Granton. It’s in high demand from family buyers, which is great news for homeowners. Average property selling price for a three-bed home:£499,047. Median selling time: 20 days. Closing dates: 29 per cent. Average amount of Home Report valuation paid: 103.3 per cent.