Posted by Schooldays Newshound, on 20/09/2016. Tags: Parenting Education And Politics
carried out by Trinity College in partnership with Daft.ie, examined whether proximity to secondary schools is reflected in the value of homes.
The research concluded that the cost of houses in close proximity to Secondary schools is higher than average house costs, about 2.6% or just under €5,600 to be exact. The report indicates that this 'school premium' is largest in Leinster and smallest in Connaught-Ulster.
Homes with only 1 or 2 bedrooms are less affected as they are less likely to have children of post-primary age compared to homes with 3 - 4 bedrooms.
The report also highlighted a link between house prices and the college progression rates of schools
they were near. Schools with an 80% college progression rate increased house prices up to 4.3% while there was a notable difference for schools with a progression rate of less than 50% percent which only boosted house prices by 0.5%.
Accoring to Ronan Lyons, assistant professor of economics at Trinity College, Dublin, "in other countries, this link between house prices and schools is the reason that property tax is used to fund schools. While that’s not the case yet in Ireland, this shows a different aspect of the benefits that occur from public investment in education.”
"In other countries, property tax is used to capture this value and fund schools – with this report, a similar approach could be adopted in Ireland."