According to research by Countrywide plc more properties are rented to families in and around some of the better rated schools, reports propertywire.co.uk
In the article the percentage of rented properties near schools that had an OFSTED outstanding rating had risen from 9% in 2008 to 28% in 2015. This is most evident in London where more than 50% of rented properties in the catchment areas of good schools are to families with children.
The report shows those looking to move into their favoured catchment area are doing so during the summer months prior to the school application assessment process which takes place during January, with the average distance a family will move at approximately half a mile, indicating the measure taken to be within the desired catchment area.
The distance from the school and number of bedrooms also has an effect on the amount of rent the average tenant is paying, for instance those living within one kilometre of a school with an outstanding rating pay 14% more than those further away.
Research analyst at Countrywide, David Fell said ‘There are 1.6 million families with children living in the private rented sector, 20% more than last year, which means school catchment areas are becoming increasingly relevant to the rental market,’ adding ‘The growth of families with children renting is just one of the changes the sector will see as the number of renters in all different stages of life continues to grow. Adapting to provide for these changing needs is a big challenge for the sector.’
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