If you are considering property investment Bexley stands out as a great prospect. Demand is high thanks to good affordability and the potential for healthy increases in value in the future. The best areas in the Borough are catchments for local schools, especially those with good Ofsted ratings.
Homes in close proximity to the best performing primary schools across London can demand a healthy premium. This is especially evident in Central areas where population density is higher and there is more competition for places. People want to live in the right catchment areas to secure places for their children.
How much of a premium?
Data from Rightmove shows the extent of the variance in prices. It suggests a home is worth an average of £80,000 more in an area with an outstanding school in comparison to one that needs to improve.
Even with higher prices, many buyers are willing to pay because the properties can be an excellent investment. It may even be worth taking risks and investing in areas that have potential for improvement in their schools.
Which Boroughs are best or school entry?
As you would expect, successful entry to preferred schools is higher in Outer London according to data from Savills. In the top ten only one area is central – Southwark. The top three is Haringey (1.6% of families didn’t get into three chosen schools), Barking and Dagenham (also 1.6%), and Bexley (1.7%).
At the other end of the scale, families in Central Boroughs had the most difficulty securing school places. Kensington and Chelsea was one of the most competitive locations. The data shows that 15.3% of families were unsuccessful at getting a place.
Investors thinking long term would be wise investing in new homes in areas that will also receive new schools. There are several of these across the capital to consider. Although a school that just opens will not have a rating, it could quickly prove to be one of the best in an area.
Finefair appreciates people want the best potential for returns when they invest in properties. We can work with them to achieve this, offering advice and useful services. When it comes to property investment Bexley sits very high on the list of popular hotspots. Contact us if you are considering it and would like guidance.