But which comes first, the house or the school?
Agents have reported their buyers becoming ever-more aware of the importance of finding a house within the catchment area of a state primary or secondary school with top exam results, or within travelling distance of one of Britain’s 164 grammar schools.
Robin Thomas, Head of Strutt & Parker Exeter office said: "The demand for selective state school places is growing and it is clear the recession is taking effect. Many families are reflecting on their lifestyles and rethinking their priorities in light of the recent financial turmoil.
"Some 50% of our buyers move to this county from outside the area and we anticipate this trend to continue for now. Colyton is one of the few local authorities that has grammar schools and properties in the locality are very sought after."
Prices in England have fallen 15.4% across the board, whereas prices in the catchment areas for top state and grammar schools dropped by an average of 11.2% and areas with the worst-performing schools have seen the largest falls in property prices.
The winners in all of this will be those with houses to sell near the best state and grammar schools and even those without children are investing in the golden areas because when it comes to resale, being in a good catchment area is worth the money.
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