Posts Tagged ‘school’
Finding Property Hotspots Part 4 – Schools
Every investor dreams of finding the next property hotspot, where rental prices rice above expectations and demand for the property is high. But finding those elusive property hotspots isn’t always quite so easy. In our property hotspot mini series, we’ve already looked at the potential benefits of looking to buy in areas where there are improved, or soon to be improved transport links, regeneration schemes and popular universities, but another area that can be an influencing factor are schools.
The impact of school catchment areas on demand for property, both rental and privately owned, has been well documented over the last few years. Even the downturn in the housing market didn’t have such an effect on places with popular school catchment areas.
Buying investment property in very sought after areas within school catchment areas will probably come at a price, as they are already established property hotspots. However, if you apply a wider view to it and look for properties in close proximity to good primary and secondary schools, or look for schools that are likely to be improved soon, then it’s still possible to find properties that could prove to be a good financial investment.
For example, schools that have failed Ofsted reports are often equipped soon after with a new head teacher, who is appointed the task of turning the school around and making huge improvements. Compared to properties in popular catchment areas, those in close proximity to rundown schools may be lower in price and could hold the key to a potential property hotspot.
Realistically, rundown schools can take a few years to be turned around, and for the league tables to improve, but you could be lucky and find yourself a property hotspot and do well with family renters wanting to live close to their school of choice
Of course, it’s important to choose the right type of property that will attract family renters too. Small flats are unlikely to be all that popular, but two and three bed family homes are. Many areas around good schools are also well equipped with local shops and leisure facilities, so when you’re investigating the area, do carefully check out the location as a whole.
Finding Property Hotspots Part 1 – Improved transport links
