Flats to rent in London desirable due to high house prices?
Finding flats to rent in London could become more popular, as a new report by Nationwide has revealed that purchasing prices in the city are being forced up.
Parents in the capital are willing to pay around £8,670 more for a house near a good primary school, driving up the cost of buying a residential property.
The building society revealed in November 2009 that Londoners would pay an average of three per cent higher in the city, or 3.4 per cent in the suburbs, but figures have now been updated to take new property prices into consideration.
A similar survey in 2004 found that parents were less willing to pay large sums for their children's education, with the average rise for well-performing schools then being just over two per cent.
Houses near the highest-performing primaries in the country, which achieve a 100 per cent Level 4 attainment rate in the Key Stage 2 SATs, could be worth 11 per cent more than an identical house based elsewhere, the report stated.
Results for the tests, which are taken in English, maths and science in the May of Year Six, will be published tomorrow.
Posted by Charles Mackay
Published 2nd August, 2010
© 2010 Estates IT Limited
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