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Learn how proximity to schools affects house prices

The headline statistic is that buyers will pay almost €5,000 extra to live close to a primar...
Newstalk
Newstalk

11.24 13 Nov 2014


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Learn how proximity to schools...

Learn how proximity to schools affects house prices

Newstalk
Newstalk

11.24 13 Nov 2014


Share this article


The headline statistic is that buyers will pay almost €5,000 extra to live close to a primary school, but the report is full of more interesting and at times conflicting findings.

It is worth pointing out that the study defines 'close to' as within 200m of a school, these property prices are compared to houses 500m or more away from a school.

Buyers will pay €25,540 extra to be close to a primary school in south county Dublin, and only €2,725 extra to be close to a secondary school.

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The amount that is paid to be close to a primary school is between 9.3 and 9.5 times what you will pay to be next to a secondary school in every part of Dublin.

Waterford puts the lowest premium on being next to a primary school, amounting to only €1,435.

The average premium across Munster is only €1,904.

In urban areas people will pay 2.1 percent more to be next to a post-primary school, but rural dwellers will only pay 0.1 percent extra - a number so small that it is questionable whether it can be classed as an influencing factor. 

The study contradicts conventional wisdom that being next to a 'good school' (one that sees a high rate of its students continue on to third-level education) will mean higher property prices - this data says that people put the same premium on being next to any school, regardless of the school's performance.

Being near a fee-paying school is valued 0.1 percent higher than being next to a non fee-paying school.

The data regarding how the religious ethos of a school affects the value that people put on living close to it makes for interesting reading.

Families will put a 2.6 percent premium on being next to a Catholic primary school, a 2.4 percent premium to being next to a non-religious primary school, and 2.3 percent on being next to a primary school with a different religious ethos.

For secondary schools these results are inverted; buyers will pay a 2.2 percent premium to be next to a school with a religious ethos that is not Catholic, 1.9 percent to be next to a Catholic school, and only 1.8 percent to live near a non-religious post-primary school.


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