Could expensive catchment areas make flats to rent appealing?
People may want to consider flats to rent in London if they hope to get their child into a good school, as buying a property could prove to be expensive.
Nigel Ellis, director at Picket & Ellis, said because of the tight criteria, people will "pay more to get into a house that is within that distance of a school".
He said in some areas of the capital, such as Broadway and Muswell Hill, homes in a school catchment area could be between £100,000 and £200,000 more expensive.
"If you spent the same money elsewhere you would probably get a better and nicer house," Mr Ellis continued, which may encourage people to consider renting instead.
He also said school catchment areas seem to be getting smaller and there has been a shortage of properties over the past few years.
The expert's comments come after Nationwide revealed last month that parents are willing to pay £8,670 more for a home in a good school catchment area.
Posted by Ben Carter
Published 13th September, 2010
© 2010 Estates IT Limited
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