Posted by Sally O'Brien, on 13/11/2014. Tags: Parenting Education And Politics
Researchers and economists from Trinity College and Daft.ie have found that the cost of housing near primary schools is up to 25,000 euro more, with families paying more to live near schools with smaller class sizes.
The research report called The Cost of Living Near Schools
has a number of findings relating to house prices and the premiums paid by parents to live near both primary and post-primary schools in both rural and city areas.
In Dublin, the cost of living near primary schools
is highest in South County Dublin with a difference of 25,000 euro. In North County Dublin, home buyers have to pay a premium of almost €14,000 to live near a primary school, with a similar figure for Dublin city centre.
Outside of Dublin, the cost of living near a primary school is highest in Co Wicklow, at €7,500. For secondary schools
, Cork city’s premium of €4,735 is the largest. Meanwhile, in Galway city there is a premium of almost €5,500 for properties close to primary schools. (Irish Independent)
House prices were raised significantly by their location to a primary school, with the obvious reason that people want to live close to schools. Also as many schools give priority to those in the general catchment area, living near a school can help in getting a place. According to the report - houses within 200m from the school cost the highest, compared to houses over 500m away from school which were valued lower. Closeness to schools is also a big issue in rural reas as childen often have to be driven to school.
Other factors assessed for price variations were school’s religious ethos versus non-religious schools, and fee-paying versus non-fee paying schools. Being close to a Catholic school increased house prices yet did not show significant difference for fee-paying and non-fee paying schools. People were also prepared to pay slightly more for closeness to an Educate Together School according to the report. Interestingly and perhaps surprisingly, "post primary schools who progress more students through to higher education
don't cost more to be near".
Overall, the report found that a home that is within 200 metres of a primary school is worth 2.6% more - or almost €5,000 on average - than a home more than 200 metres from a primary school.