Monday, March 26, 2012

Community generated land values being appropriated by the vested interests

Homes near top schools cost an extra £90,000

"HOUSES located near top performing primary schools cost an average of 42 per cent more than homes in other areas, according to research published this morning. Parents concerned with securing their children a place at a well-regarded school can pay an average of £91,618 more for a property than they would have to cough up to live elsewhere." If people are prepared to pay £xxxx a year in higher mortgage payments while their children are school age, why not just allow the school to charge £xxxx per year in tuition fees, so that the school gets the money not the landowners? Or even better, collect that £xxxx via taxes on the rental value of land?

Posted by mark wadsworth @ 10:25 AM (1107 views)
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7 thoughts on “Community generated land values being appropriated by the vested interests

  • sibley's b'stard child says:

    Good find, the Metro also ran the same article but didn’t have it on-line so couldn’t post. Tsk.

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  • general congreve says:

    Of course they do, if you don’t want your kids going to a crap school with plebs, you pay for that privilege. End of.

    It’s the education system and welfare system that is at fault in this case, for distorting the local housing markets in this way.

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  • How much does a private education cost approx?

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  • At this stage, it would make more sense finding a cheaper location and forking out for private education! That is how badly State Education has become devalued. You will need to use lateral thinking to understand what I’ve just said.

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  • Best option is to rent until you get an ‘anchor child’ into a posh state school, then buy somewhere a bit further.

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  • greenshootsandleaves says:

    We’re not told whether the properties are otherwise similar, but never mind. Research points also to major differentials in the value of cars in the garages of properties situated near the top-performing state schools as compared with those parked outside homes on sink estates. I mention this because, since I happen to live in a ‘desirable’ catchment area, my rather modest 1993 Fiat Punto must surely be worth an extra five grand at least.

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  • stillthinking says:

    http://www.moneyweek.com/personal-finance/money-saving-tips/dont-pay-100k-for-state-education-55325

    But I think the majority of state schools don’t select, so being close enough is tantamount to admission. Decent private schools will have selection criteria that your dim wit offspring might not pass.

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