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.
9. Forrester High School
To the west of the city, homes in the catchment area for Forrester High School are located in neighbourhoods including Broomhouse, Sighthill and Carrick Knowe. Family-friendly properties in this catchment are around £66,000 cheaper than the Edinburgh average, and the second lowest-priced in the overall rankings, only homes in the catchment for 20th -place Craigroyston Community High are lower. Average property selling price for a three-bedroom home: £311,944. Median selling time: 29 days. Closing dates: 19 per cent. Average amount of Home Report valuation paid: 100.6 per cent. | Stock
10. Drummond Community High School
At 15th place, Drummond Community High’s catchment area holds a very strong property market thanks to its coverage of Broughton and Bellevue, as well as Hillside, Abbeyhill and parts of Leith. Properties here still perform strongly, with average prices for family homes selling for around £83,000 more than the general Edinburgh average. Average property selling price for a three-bedroom home: £461,863. Median selling time: 20 days. Closing dates: 26 per cent. Average amount of Home Report valuation paid: 103.5 per cent. | Stock